El Salvador’s Bitcoin Investment In the Green, Nayib Bukele Slams Critics

Published: Dec 4, 2023
Written By:
Vignesh Karunanidhi
Milk Road Writer

El Salvador’s venture into Bitcoin has taken a positive turn, with President Nayib Bukele announcing notable profitability that contradicts earlier negative narratives.

Through his latest tweet, Bukele clarified that the current market conditions have not only allowed the nation to recover its entire Bitcoin investment but also to accrue an unrealized profit of $3,620,277.13.

Addressing a history of critical articles and hit pieces that mocked El Salvador’s losses, Bukele emphasized the importance of recognizing the present financial landscape.

Key Points:

  • The Nayib Bukele Portfolio Tracker reports El Salvador’s current Bitcoin holdings at an impressive $131,683,280.
  • The nation possesses 3,144 Bitcoin, showcasing a substantial investment.
  • Recent data indicates a 3.47% unrealized profit over time, amounting to $4,414,765.93, illustrating the success of El Salvador’s unconventional financial approach.
El Salvador's Bitcoin holdings

El Salvador has no plans to sell Bitcoin

Despite the significant profit potential, President Bukele clarified that El Salvador has no plans to sell its Bitcoin holdings. The country remains committed to its long-term strategy, acknowledging the inherent volatility in cryptocurrency markets.

“Of course, we have no intention of selling; that has never been our objective. We are fully aware that the price will continue to fluctuate in the future, this doesn’t affect our long-term strategy.”

Bukele said

President Bukele used the opportunity to call for retractions or, at the very least, acknowledgment from critics. In addition, he asserted that responsible journalism should reflect the same level of intensity in reporting positive developments as it did in covering perceived losses.

The success of this investment may influence other countries contemplating similar ventures, prompting a reassessment of cryptocurrencies’ place in economic strategies.

El Salvador’s relationship with Bitcoin provides a true example that challenges existing perceptions and highlights the necessity of adapting to the dynamic nature of the cryptocurrency market.

Vignesh Karunanidhi
Milk Road Writer
Vignesh has been a seasoned professional in the crypto space since 2017. He has been writing for over 5 years and specializes in writing and editing various types of crypto content, including news articles, long-form pieces, and blog posts, all focused on sharing the beauty of blockchain and crypto.