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El Salvador's Bitcoin investment records an unrealized profit of 51.5 billion yen.
El Salvador Continues to Purchase BTC
According to a statement made by El Salvador's President Nayib Bukele on social media on the 19th, the country has generated an unrealized profit of $357 million from its investment in the cryptocurrency Bitcoin (BTC). As BTC prices approach the all-time high of $108,000, the country's investment return rate for this year has reached over 120%.
In a screenshot posted by President Bukele on X, the holdings of Bitcoin amount to a value of $644 million against a principal of $287 million. The country currently holds about 6,181 BTC and has recorded an unrealized gain of $69.8 million just this year.
El Salvador became the world's first country to adopt Bitcoin as legal tender in September 2021. Meanwhile, in a $1.4 billion loan agreement with the International Monetary Fund (IMF), it is being asked to restrict Bitcoin-related activities.
However, the country's Minister of Economy acknowledged in April this year that the government continues to purchase Bitcoin despite an agreement with the IMF. A legal amendment to make it optional for private companies to accept Bitcoin payments was approved in January, but a strong stance has been emphasized regarding not conceding on the government's own BTC investments.
Topics: Trends of Bitcoin Holding Companies and Countries in Japan and Abroad