El Salvador’s President Bukele has revealed that if the country were to liquidate its bitcoin holdings today, it would yield a profit of over 40%, amounting to nearly $41.6 million. This announcement comes amidst a surge in Bitcoin’s market price.
Bukele addressed the shift in narrative surrounding El Salvador’s bitcoin holdings, pointing out that when Bitcoin’s market price was low, there were numerous articles speculating about losses. However, with the recent surge in Bitcoin’s value, the potential profit from selling the holdings has become evident.
The majority of El Salvador’s additional bitcoin holdings were acquired through its citizenship program, which offers expedited citizenship to those who make a BTC “donation” to the government. Despite the significant profit potential, Bukele emphasized that the country has no intention of selling its bitcoin.
According to the reports, El Salvador’s bitcoin holdings were accumulated at an average price of $44,292, and the country currently holds 2,381 bitcoins in its treasury. This substantial investment has contributed to El Salvador’s financial portfolio, alongside the surge in its bonds over the past year.
The country has also witnessed a surge in its bonds’ value, with a debt due in 2052 trading above 80 cents on the dollar, according to FactSet data.
