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Bitcoin earns El Salvador 83 million USD, President Bukele: more Bitcoin income to come

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Bitcoin earns El Salvador 83 million USD, President Bukele: more Bitcoin income to come

El Salvador holds 2,862 bitcoins acquired between 2021 and 2022, bringing the Central American country unrealized profits of 83 million USD after Bitcoin hit a historic high. This investment has yielded a return on investment of 68.84%. Once criticized, El Salvador's President Nayib Bukele is now basking in the limelight, how did he respond to the Bitcoin investment in a recent interview?

El Salvador Buys Bitcoin 12 Times, Waiting for a Gain of 83 Million USD

According to statistics, El Salvador started buying Bitcoin in September 2021 when the price was around 51K, and continued until November 2022, with a total of 12 purchase records. During this period, the highest cost for buying Bitcoin was at 60K, and they also bought Bitcoin at a low of 19K.

The average cost of El Salvador's Bitcoin purchases is 42,610, totaling 120 million USD spent. The current investment value is 205 million USD, yielding a return of 68.84%.

President Bukele: Bitcoin Brings More Than Just Profits

Facing Bitcoin's strong performance this year, El Salvador's President Nayib Bukele stated that since adopting Bitcoin as legal tender, they have opened up many government-related services, so the profits are not just from the purchased Bitcoin.

  • Bitcoin profits from the Salvadoran passport program
  • Profits from local businesses converting Bitcoin to US dollars
  • Bitcoin mining profits
  • Profits from government departments accepting Bitcoin payments

Central America's Most Dangerous! Nayib Bukele Emphasizes Success in Combating Gangs

Compared to Bitcoin, Nayib Bukele's ability to win re-election by a large margin is believed to be due to his crackdown on gangs and crime. He has taken aggressive measures to sweep out crime and has locked up tens of thousands of gang members in prison.

Such policies have also faced criticism. Due to changes in the law, individuals as young as 12 can be imprisoned in these facilities; the specific reasons for arrests lack transparency, and many who claim innocence are directly sent to prison. Many international media outlets have also reported on the inhumane conditions in Salvadoran prisons.

El Salvador was once known as the most dangerous country in Central America. With Bitcoin attracting more international attention, it is trying to address economic and security issues in an unconventional way.