How much profit did El Salvador, which dreamed of accepting Bitcoin as the official currency from 2019 until the past months, adopted the bill in June and made Bitcoin the official currency by enacting it in September, with the Bitcoins it owned? Let’s take a look at the answer to this question and the adventure of El Salvador and Bitcoin so far.
Established in 2009 with the aim of a privacy-focused and decentralized structure that brings the crypto money industry into our lives. bitcoin, today seeing $67k managed to break the all-time record. The cryptocurrency that drives the cryptocurrency market has been adopted as the official currency in El Salvador in the past weeks, with a historic decision.
On June 9, 2021, El Salvador unanimously passed the bill to adopt Bitcoin as its official currency. A first in the world, El Salvador had put the accepted bill into effect on September 7. Between these dates, he started adding Bitcoin to the state treasury. Come on El Salvador’s adventure with Bitcoin, how many bitcoins you boughtHow Bitcoin has been affected by unity with El Salvador’s decisions and how El Salvador has so far Let’s see how much profit you can make with Bitcoin investment.
The adventure of Bitcoin and El Salvador:
The movement that occurred in Bitcoin with the adoption of the bill by El Salvador:
El Salvador, the bill on June 9 Bitcoin was volatile in those days when he accepted it. on the 8th of June 31 thousand dollars level Seeing Bitcoin, it made a big splash with El Salvador’s decision. Bitcoin, from the low of 32,300 on June 9, suddenly climbed to 37,500.
Exactly 6 days after that, on June 15, the price of Bitcoin rose to the level of 41 thousand dollars. Although El Salvador excited investors with the Bitcoin move, Bitcoin started a 1-week decline from the same day. When the dates showed June 22, Bitcoin stood at $ 28,805. This level is Bitcoin’s It was the lowest level it had seen in the last 6 months at that time. As a result, El Salvador’s decision began to be criticized in the country and around the world.
El Salvador, on June 25 that he will distribute $30 Bitcoin to every citizen announced. This move was made to promote the use of Bitcoin in the country. All that had to be done to have this Bitcoin was to download the cryptocurrency wallet application developed by the country.
Bitcoin’s journey until September 7:
Bitcoin, which declined from $ 58 thousand to $ 30 thousand in May, and saw $ 28 thousand in June, started to rise again in July. In this month, the cryptocurrency has seen the lowest levels of 29 thousand dollars and the highest 42 thousand dollars. At the level of 41 thousand dollars closed. The rise of July also jumped to August.
Bitcoin, the lowest 36 thousand in August, the highest level of 50 thousand he saw. These two months have once again turned the views positive about El Salvador, which decided to accept Bitcoin as the official currency when it was at the level of 32 thousand.
After the rise in August, Bitcoin had an extremely active month. On the first day of September, Bitcoin saw a low of $ 46 thousand and a high of $ 49 thousand. In the following days, it experienced a rise until September 6 and reached 52 thousand 700. The next day was El Salvador’s day. Or was it?
El Salvador has officially introduced Bitcoin as its official currency:
On September 7, 2021, El Salvador adopted Bitcoin as its official currency. enacting the bill a principle in history signed. With this decision, Bitcoin rose to the level of $ 52 thousand 920. But while everyone is looking forward to the green candles with this decision, Bitcoin has turned a corner for investors.
Bitcoin, just before the end of 24 hours A $10k setback lived. The cryptocurrency has retraced up to $42,843. El Salvador because of the Bitcoin it held that day millions of dollars in damage has come by.
El Salvador bought its first Bitcoin on September 6:
On September 6, El Salvador President Nayib Bukele announced the country’s first Bitcoin purchase. El Salvador bought 200 Bitcoins. On September 6, the value of Bitcoin was hovering around 50 -52 thousand.
On September 7, he received exactly 350 more Bitcoins:
On September 7, Bukele announced that they had purchased 200 more Bitcoins just before Bitcoin became the official currency. However, Nayip Bukele also announced the amount of Bitcoin the country holds. El Salvador on September 7, Reached 400 Bitcoins. It was on that date about 21 million dollars was doing. Of course, after the fall, the value of Bitcoin, which he held, also dropped drastically. Bitcoin at the minute of the announcement, It was at the level of 51 thousand 924 dollars. This is about 3 million dollars lost It means they live.
But as if that weren’t enough, a few hours after the last announcement on the same day, the country about 150 more Bitcoins he bought. El Salvador’s President said:we take from the bottom‘ he announced. The value of Bitcoin in their hands $26 million rose.
After today’s loss Protests broke out in the country.
September was a painful month:
Bitcoin, after this fall, until September 14 It was around 45 thousand dollars.. The unit, which rose to 47 thousand dollars on September 14, remained at this level until September 20. On September 20, Nayip Bukele made another statement and said that the country’s He bought 150 more Bitcoins explained. The amount of Bitcoin in El Salvador’s treasury has risen to 700. But this purchase was made this time during the decline. El Salvador announced this decision when Bitcoin was at the level of 45 thousand dollars. The country’s value of total Bitcoin, approx. increased to 31 million dollars.
But on the same day, it fell again and Bitcoin, 42 thousand dollars declined. He saw $39,600 the next day. El Salvador, lost again from its new purchase.
Until September 29, El Salvador had a nightmare:
From September 20 to September 29, when El Salvador raised its total Bitcoin treasury to 700, the country had a nightmare due to Bitcoin’s volatile movements. The cryptocurrency, which is between $ 44 thousand and $ 40 thousand, was released on September 29. saw 40 thousand dollarsclosed at $41,000. From the last day of September until today, El Salvador has been experiencing extremely pleasing days.
October served El Salvador:
On September 30, Bitcoin closed the day at $ 43 thousand, which started with $ 41 thousand. On October 1, Bitcoin ended the day with more than $ 48 thousand. After two stagnant days, it continued to rise on October 4th and resumed on October 6th. 55 thousand level broke. Bitcoin hovered between the levels of 55 thousand – 53 thousand until October 10.
Bitcoin, which rose to $ 57 thousand on October 11, closed on October 13 at the level of 57,500 after circulating around $ 57 – 54 thousand for 2 days. On October 15, Bitcoin spiked above $60,000 with a sudden rise. After three days of stagnation, Bitcoin reached $64,349 on October 19th. all-time record It is very close to 64 thousand 843.
The next day, October 20, as we write this article, Bitcoin reached an all-time high. Bitcoin saw $ 67 thousand. A new record has arrived.
So, with the new Bitcoin record, how much profit has El Salvador made from Bitcoin on average so far?
Let’s briefly talk about the numbers we mentioned above in the calculation that we will give the average answer to this question.
- On September 6-7, El Salvador, in total 550 Bitcoins he bought. Total Bitcoin value after last purchase was about $26 million.
- On September 20, the country bought another 150 Bitcoins and added the total number of Bitcoins in the treasury. increased to 700. The value of Bitcoin in the country’s hands with the loss to date and the new purchase about 31 million dollars it happened.
El Salvador has not announced any acquisitions since September 20. The country still continues to hold 700 Bitcoins. That’s 700 Bitcoins, the cryptocurrency’s record price today. When calculated with 67 thousand dollars equivalent to about $47 million. This is roughly equivalent to the day El Salvador increased its treasury to 700 Bitcoin. $16 million in profit means.
How much profit will Bitcoin have made if it is $XX.XXX? (With 700 Bitcoins, as of September 20, when the last purchase was made)
- El Salvador if Bitcoin hits $70,000 $49 million Will have. ($18 million profit)
- El Salvador if Bitcoin hits $80,000 $56 million Will have. ($25 million profit)
- El Salvador if Bitcoin hits $90,000 $63 million Will have. ($32 million profit)
- If Bitcoin hits $100,000, El Salvador, $70 million Will have. ($39 million profit)
It’s hard to know exactly how much Bitcoin El Salvador has:
How much Bitcoin El Salvador currently has is unknown, except for the statements made. Because although it is known that there are 700 Bitcoins in the country’s treasury, the country Bitcoin mining with volcanic energy had begun. How much Bitcoin has been mined through mining has not yet been disclosed.