{"id":486681,"date":"2024-03-07T11:29:32","date_gmt":"2024-03-07T11:29:32","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=486681"},"modified":"2024-03-07T11:29:32","modified_gmt":"2024-03-07T11:29:32","slug":"el-salvador-earns-54-million-profit-on-bitcoin-investment-as-nations-btc-holdings-surge-past-159-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/el-salvador-earns-54-million-profit-on-bitcoin-investment-as-nations-btc-holdings-surge-past-159-million","title":{"rendered":"El Salvador Earns $54 Million Profit On Bitcoin Investment As Nation&#8217;s BTC Holdings Surge Past $159 Million"},"content":{"rendered":"<p>El Salvador President Nayib Bukele&rsquo;s bet on Bitcoin is looking good, with the nation&rsquo;s investment soaring past $159 million and profits reaching almost $54 million.<\/p>\n<p><span style=\"font-weight: 400;\">El Salvador&rsquo;s president <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/el-salvador-is-going-to-buy-one-bitcoin-per-day-from-today\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> in mid-November 2022 that the country&rsquo;s government would purchase one BTC daily. It has since accumulated about <a href=\"https:\/\/bitcointreasuries.net\/entities\/48\">2,380<\/a> BTC at an average price of $44,300 that are worth about $159 million with BTC trading at $66,973 as of 10.57 a.m. EST.&nbsp;<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Still waiting&hellip; <a href=\"https:\/\/t.co\/FkKs2rRP1Q\">https:\/\/t.co\/FkKs2rRP1Q<\/a> <a href=\"https:\/\/t.co\/X6UyAsoTIz\">pic.twitter.com\/X6UyAsoTIz<\/a><\/p>\n<p>&mdash; Nayib Bukele (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1764711900141527470?ref_src=twsrc%5Etfw\">March 4, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>El Salvador President Hits Back At Critics<\/h2>\n<p><span style=\"font-weight: 400;\">Bukele initially faced a backlash for his decision, but hit back hard last month after the king of cryptos surged.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&ldquo;They wrote thousands of articles about our supposed losses,&rdquo; when the crypto&rsquo;s price was low, he tweeted.&nbsp;<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">When <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>&rsquo;s market price was low, they wrote literally thousands of articles about our supposed losses.<\/p>\n<p>Now that <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>&rsquo;s market price is way up, if we were to sell, we would make a profit of over 40% (just from the market purchases), and our main source of BTC is now our&hellip;<\/p>\n<p>&mdash; Nayib Bukele (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1762867369217532125?ref_src=twsrc%5Etfw\">February 28, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Bukele has said the nation has no intention of selling its BTC. The experts, analysts and journalists who wrote &ldquo;hit pieces&rdquo; criticizing the decision to purchase BTC are &ldquo;totally silent now,&rdquo; he said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bukele was recently <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/el-salvadors-bitcoin-friendly-president-nayib-bukele-heads-for-re-election\"><span style=\"font-weight: 400;\">re-elected<\/span><\/a><span style=\"font-weight: 400;\"> for another five-year term as El Salvador&rsquo;s president.&nbsp;<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Related Articles:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.linkedin.com\/pulse\/best-ai-crypto-coin-projects-top-picks-2023-juliana-clarisse-calsona-d67oe\"><span style=\"font-weight: 400;\">Best AI Crypto Coin Projects: Top Picks for 2023<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/spot-bitcoin-etfs-hit-record-10-billion-in-trading-volume-as-bitcoin-goes-on-a-rollercoaster-ride\"><span style=\"font-weight: 400;\">Spot Bitcoin ETFs Hit Record $10 Billion In Trading Volume As Bitcoin Goes On A Rollercoaster Ride<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/ethereum-name-service-price-prediction-for-today-march-6-ens-technical-analysis\"><span style=\"font-weight: 400;\">Ethereum Name Service Price Prediction for Today, March 6 &ndash; ENS Technical Analysis<\/span><\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">Smog (SMOG) - 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