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🇸🇻💥Bitcoin assets in El Salvador reach record $164 million as BTC profits surpass $50 million
The company, which is in the hands of the Salvadoran government, is currently valued at more than $ 150 million.
The latest data from the tracking resource Bitcoin Treasuries estimates that El Salvador's #BTC assets have increased by $50 million on a cost basis.
El Salvador is returning BTC on a dwarf cost basis
Bitcoin first appeared as a legal means of paying in El Salvador in 2022, and since then the country's stash has grown from bear market rags to record riches.
Its chairman Nayib Bukele has accumulated about 2,380 BTC ($158.5 million) since the government announced that it would start buying 1 BTC per day.
Bitcoin's value at its all-time high on March 5, 2024 was $164.7 million, which was 53% more than El Salvador's total cost basis. Each Bitcoin was purchased at an average price of $ 44,300.
Bukele, who was re-elected last month, criticized the mainstream media's approaches to the government's economic policy in his latest comment on X (formerly Twitter).
When the market price of Bitcoin was low, they wrote literally thousands of articles about our so-called losses. Now that the market price of Bitcoin is very high, if we sell it, we will make a profit of over 40% (only from market purchases), and our main source of BTC is now our citizenship program," he claimed last week.
“We will not sell or of course; in the end 1 BTC = 1 BTC (this was true when the market price was low and it is true now); but it makes a lot of sense that the authors of these hit articles, 'analysts', 'experts', 'journalists' are now completely silent.”
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