El Salvador President Shares Investment: BTC Return Rate Exceeds 133%! Did the Local People Make a Fortune?

As Bitcoin once again breaks its historical high, El Salvador President Nayib Bukele announced today the country's Bitcoin investment portfolio, showing that the country's current Bitcoin holdings are valued at $632.6 million, with unrealized gains of $362.2 million, resulting in a return on investment of 133.95%. (Background: Argentina cooperates with El Salvador to sign a cooperation agreement in the cryptocurrency industry, will it become the next Bitcoin nation?) (Additional Background: El Salvador plans to eliminate the mandatory acceptance of BTC payments by businesses: in exchange for $3.3 billion loans from the IMF and World Bank) Bitcoin surged to a record high of $106,600 this morning, once again setting a historical record. Since the election of U.S. Republican presidential candidate Trump, it has established a record of seven consecutive weeks of rising prices. 10x Research predicts that Bitcoin's price could reach $120,000 before Trump's inauguration in January. President of El Salvador shares his investment portfolio. As Bitcoin breaks a new high, El Salvador President Nayib Bukele shared a screenshot of the country's Bitcoin investment portfolio on Twitter today, showing that El Salvador's Bitcoin holdings have reached $632.6 million, with a total investment of $270.4 million, unrealized gains of $362.2 million, and an investment return rate of 133.95%. pic.twitter.com/w9FrMmCkwi — Nayib Bukele (@nayibbukele) December 16, 2024 With Bukele's vigorous promotion, El Salvador officially adopted Bitcoin as legal tender in September 2021 and actively promoted several Bitcoin policies, including daily investments of 1 Bitcoin. According to data platform Arkham's monitoring, through relentless daily investments, El Salvador currently holds as many as 5,966 Bitcoins, with a holding value of $624 million. However, despite El Salvador being the first country to adopt Bitcoin as legal tender, the Salvadoran people generally do not hold Bitcoin long-term. The Associated Press previously reported that although Bukele's government offered $30 worth of Bitcoin to those who registered for the country's digital wallet, many quickly cashed out their Bitcoin. In response, Bukele recently criticized this, attributing the situation to the opposition: It is important to emphasize that the opposition has not only made serious mistakes regarding Bitcoin, but unlike other issues, their opposition has affected many people this time. Former Central Bank President of El Salvador, Carlos Acevedo, stated that although Bitcoin holdings have yielded profits, they remain unrealized gains until the government sells Bitcoin. In light of Trump's election, he praised Bukele's government's embrace of Bitcoin: The market's optimism that Trump's administration will be friendly to the market, especially to Bitcoin, explains the continued rise of Bitcoin over the past month, but the volatility of cryptocurrencies remains a persistent risk. Generally, Salvadorans do not use Bitcoin, but it is clear that some Salvadorans with economic resources had already invested in Bitcoin even before this, although they constitute a minority. Plans to eliminate mandatory acceptance of Bitcoin payments. However, it is worth noting that the Salvadoran government had previously hoped to secure credit limits from the IMF to address fiscal issues, but negotiations stalled for two years due to the IMF's requirement for El Salvador to amend its Bitcoin legislation, stating that the legal status of Bitcoin was a major obstacle to obtaining credit support. Recently, the Financial Times reported that El Salvador is negotiating with the IMF, planning to take a step back and eliminate the legal requirement for businesses to accept Bitcoin as a payment method, allowing businesses to decide independently whether to accept Bitcoin payments in exchange for a $1.3 billion loan from the IMF. Related reports: Ouch! The German government sold Bitcoin six months early, missing out on $2.2 billion; El Salvador's BTC holdings are nearing 6,000. Decoding the key players behind El Salvador's Bitcoin push: Bitfinex Securities COO Jesse Knutson will attend a seminar in Taiwan. Self-satisfied? El Salvador poll: 92% have never traded BTC, only 1.3% believe Bitcoin is the future. "El Salvador President shares investment: BTC return rate exceeds 133%! Did the local people make a fortune?" This article was first published on BlockTempo (the most influential blockchain news media).