El Salvador’s Bukele Says Value of Country’s Bitcoin Holdings Up Over 40%
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El Salvador’s bitcoin holdings are worth more than $147 million dollars, a profit of more than 40%
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The country first started buying bitcoin in September 2021
If El Salvador liquidated bitcoin holdings today, it would book a profit of nearly $41.6 million, or more than 40%, according to a post on X by the country’s president.
“When Bitcoin’s market price was low, they wrote literally thousands of articles about our supposed losses,” Bukele wrote on the social media platform. “Now that #Bitcoin’s market price is way up, if we were to sell, we would make a profit of over 40%.”
Bukele also noted that the country’s main source of additional bitcoin was its citizenship program which offers expedited citizenship to those who make a BTC “donation” to the government (amount not defined). The country, he continued, has no intention of selling its bitcoin.
El Salvador’s holdings were accumulated at an average price of $44,292. In total, the country has 2,381 bitcoins in its treasury.
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The country has also seen its bonds surge in the last year, with a debt due in 2052 trading above 80 cents on the dollar, according to FactSet data.
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Bukele won re-election in early February with more than 85% of the vote.
Edited by Stephen Alpher.
