President Nayib Bukele of El Salvador announced that the country has made approximately $265 million in profit since adopting Bitcoin as a legal tender and reserve currency. El Salvador initially invested $135 million in Bitcoin, which has now grown in value to $400 million. Bukele added that Salvadorans have also benefited significantly from Bitcoin’s price increase. According to NayibTracker data, El Salvador holds 5,856 Bitcoins, with unrealized gains exceeding $50 million. El Salvador became the first country to adopt Bitcoin as an official currency on September 7, 2021, aiming to promote financial inclusion, simplify payments, and attract financial innovation.
Source: cryptoslate.com
