El Salvador’s Bitcoin Bet Is Paying Off—Here’s How Much The Country Is Up (UPDATED)
Posted On November 11, 2024
Editor’s note: This story has been updated with recent figures about El Salvador’s returns on its Bitcoin investment.
El Salvador, the first nation state to adopt Bitcoin (CRYPTO: BTC) as a means of payment, is up $68 million on its investments, according to on-chain analysis.
What Happened: Spotonchain data shows El Salvador’s strategic Bitcoin investments, led by president Nayib Bukele, have reaped gains of $24.54 million. Starting Nov. 18, 2022, the country purchased one bitcoin daily, bringing its total holdings to 5,931 bitcoin as of Nov. 11, 2024. The country’s unrealized …
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