El Salvador's Bitcoin Portfolio Surpasses $644 Million With $357 Million Profit, Up 124% on $287 Million Investment

El Salvador's President Nayib Bukele has disclosed the country's Bitcoin holdings, revealing an unrealized profit of approximately $357 million. The Central American nation initially invested around $287 million in Bitcoin, and the current value of its Bitcoin portfolio stands at over $644 million, marking a 124% increase.

El Salvador's Bitcoin investment has generated an unrealized profit of around $357 million, President Nayib Bukele disclosed on Thursday.

The Central American nation's initial investment in Bitcoin was approximately $287 million, which has increased to over $644 million, reflecting a 124% gain.

Bitcoin investment in El Salvador has seen extremes, hitting a low of $25 million in 2022 and a high of $655 million. Despite pressure from the International Monetary Fund (IMF) to halt its Bitcoin purchases, El Salvador has continued to accumulate the cryptocurrency, aiming for one Bitcoin daily.

This move follows El Salvador's historic decision to adopt Bitcoin as legal tender in 2021, making it the first country to do so. The country's strategy involves leveraging its daily revenue to buy Bitcoin and converting any gains to U.S. dollars, which are then used for social programs.

The revelation of El Salvador's Bitcoin profit comes amid ongoing global cryptocurrency market volatility and a broader economic downturn.

The news was initially reported by BTC.Wolf, who shared a screenshot of Bukele's post on X, formerly known as Twitter.

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