El Salvador’s Bitcoin Profits Exceed 40%: Where Have the Critics Gone, President Nayib Bukele?
Salvadoran President: Will Never Sell Bitcoin
Salvadoran President Nayib Bukele stated in a tweet that El Salvador’s Bitcoin holdings have seen a 40% profit, emphasizing that they will never sell Bitcoin. He also criticized the continuous reporting of losses during bear markets.
“When the Bitcoin market price was low, they wrote thousands of reports about our losses. Now that the Bitcoin market price has risen significantly, if we were to sell, we would make a profit of over 40%. The main source of Bitcoin is our citizen plan, and of course, we will not sell. In the end, 1 BTC = 1 BTC, just as it was when the market price was low, and it is the same now. But the issue that can be explained is that those authors, analysts, experts, and journalists who released popular reports are now completely silent. Please remember this next time they release false reports about El Salvador.”
Gold bug Peter Schiff: Sell and then talk about profits
Peter Schiff, a famous gold supporter and Bitcoin critic, commented below the tweet, stating that Nayib Bukele should sell Bitcoin before talking about these profits.
Kraken, the exchange, also expressed their gratitude, saying, “You have a vision and have been persistent. Thank you for being a pioneer in Bitcoin and accelerating its adoption!”
Salvadoran Bitcoin holdings turn from losses to profits
In December of last year, Nayib Bukele quoted data from the NAYIB BUKELE PORTFOLIO TRACKER, stating that El Salvador’s Bitcoin holdings had turned from losses to profits. Including the daily Bitcoin purchases that Nayib Bukele announced, the total holdings have reached 2,849 coins.
If using this data, the holdings are as follows:
Total holdings: 2,849 coins
Holdings value: $174 million
Average cost: $42,504
Profit from holdings: $53.36 million (about 44.07%)
However, these data can only be used as a reference, as all purchasing data comes from Nayib Bukele’s tweets on social media. Whether or not the purchases were made, if there were really regular purchases, and if these Bitcoins are still intact, seems to be known only by Nayib Bukele himself.
