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El Salvador Defies Critics as Bitcoin Portfolio Finally Turns Green

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El Salvador Defies Critics as Bitcoin Portfolio Finally Turns Green


Briefly, despite criticism of the country’s strategy, El Salvador’s Bitcoin portfolio turns profitable with an unrealized gain of more than $3.6 million.
El Salvador has continued to buy Bitcoin on a daily basis since November 2022, despite widespread criticism and prior unrealized losses totaling $54 million.
The unbanked population of El Salvador views Bitcoin as a source of financial education and empowerment.

After El Salvador’s Bitcoin (BTC) investment revealed an unrealized profit of more than $3.6 million, Nayib Bukele hit back at critics. Since El Salvador was the only nation to accumulate Bitcoin, the country held a strong belief in the asset class. The country’s portfolio turned beneficial in the wake of holding the resource all through the bear market as Bitcoin hit $42,000.



Nayib Bukele Demands Apologies from Critics

El Salvador’s striking choice to make Bitcoin a lawful delicate got weighty analysis from the established press and customary money organizations. Lastly, El Salvador’s President, Nayib Bukele, announced in a post on X (Twitter) that the country has unrealized profits of more than $3.6 million. Bukele penned:

“With the current Bitcoin market price, if we were to sell our Bitcoin, we would not only recover 100% of our investment but also make a profit of $3,620 277.13 (as of this moment).

Of course, we have no intention of selling; that has never been our objective. We are fully aware that the price will continue to fluctuate in the future, this doesn’t affect our long-term strategy.”

The nation had unrealized losses of more than $54 million during the lows in November 2022. However, Bukele declared that El Salvador would get one Bitcoin consistently.

The mainstream media heavily criticized El Salvador’s Bitcoin experiment as a result of the bear market. El Salvador’s adoption of Bitcoin was derided by not only the mainstream media but also organizations like the International Monetary Fund (IMF).







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Calling out the mainstream media companies, Bukele wrote:

“Nonetheless, it is important that the naysayers and the authors of those hit pieces take back their statements. The responsible thing to do would be for them to issue retractions, offer apologies, or, at the very least, acknowledge that El Salvador is now yielding a profit, just as they repeatedly reported that we were incurring losses.

“If they consider themselves true journalists, they should report this new reality with the same intensity they reported the previous one.”

While El Salvador’s portfolio was productive when Bukele posted on X, it had an undiscovered deficiency of 2.34% during press time. Nayib Tracker, a site that tracks the Bitcoin arrangement of El Salvador, shows that the nation holds 2,762 Bitcoin at a typical cost of $42,434.

Some citizens of El Salvador believe that Bitcoin brings fresh hope, pushes them to get a financial education, and empowers the unbanked.

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