President of El Salvador Nayib Bukele Bitcoin A significant improvement in their financial situation was achieved by providing an update on their investments. laid. Contrary to numerous news reports criticizing El Salvador’s alleged losses based on BTC’s previous market prices, recent market conditions indicate that the country’s strategy has been successful.
El Salvador’s #Bitcoin Investments are in the black!
NEWS CONTINUES BELOWAfter literally thousands of articles and hit pieces that ridiculed our supposed losses, all of which were calculated based on #Bitcoin‘s market price at the time…
With the current #Bitcoin market price, if we were to sell… pic.twitter.com/gvl2GfQMfb
NEWS CONTINUES BELOW— Nayib Bukele (@nayibbukele) December 4, 2023
As of the current Bitcoin price, El Salvador’s BTC investments have not only covered the investment expense but also brought in a profit of $3,620,277. President Bukele emphasized that their long-term strategy remains unchanged, regardless of short-term price fluctuations.
While El Salvador has no plans to sell its Bitcoin assets, the President has previously stated that he expects an apology from those who criticized the country’s BTC strategy based on outdated information. In addition, calling for responsible reporting and recognition of El Salvador’s profitable position, Bukele challenged journalists to report positive reality with the same zeal as they reported initial skepticism.
Minister Nayib Bukele’s post also received positive reactions from El Salvadorans and the global crypto community. Many expressed their admiration and gratitude for his bold choices and leadership in accepting Bitcoin as legal tender.
Their Bitcoin mining strategy, which uses the geothermal energy of El Salvador’s volcanoes, will likely pave the way for more success for them in the future. This is one of the details followed with excitement in the community.