El Salvador President Nayib Bukele announced the latest status of the country’s much-discussed Bitcoin investments. Bukele said that despite the criticism, this investment has proven to be extremely profitable.
Explaining the profit, Nayib Bukele turned on the lasers!
As you follow from Kriptokoin.com, the leading crypto Bitcoin made a strong move today. BTC managed to overcome all obstacles and rise above 42 thousand dollars. Later, although it loses some altitude, it continues to fly high. After this, the laser-eyed President of El Salvador, Nayib Bukele, took the stage again. Bukele has previously faced a barrage of criticism over the alleged losses. Now, at
Bukele issued a lengthy statement on social media to address numerous articles that had previously speculated about the country’s losses based on the price of Bitcoin at the time. In this context, the President of El Salvador began his evaluations as follows:
After thousands of articles and hit pieces mocking our supposed losses, all calculated based on BTC’s market price at the time… At the current Bitcoin market price, if we were to sell our Bitcoin, we would not only recover 100% of our investment, but also 3,620,277, We would make a profit of $13 (as of now).
El Salvador's #Bitcoin investments are in the black!
After literally thousands of articles and hit pieces that ridiculed our supposed losses, all of which were calculated based on #Bitcoin’s market price at the time…
With the current #Bitcoin market price, if we were to sell… pic.twitter.com/gvl2GfQMfb
— Nayib Bukele (@nayibbukele) December 4, 2023
El Salvador has no intention of selling Bitcoin assets!
Despite the obvious financial gain, Bukele made it clear that El Salvador has no intention of selling its BTC assets. The president said selling was never the goal. He also emphasized that the country is committed to its long-term strategy, regardless of market fluctuations. Calling for accountability, Bukele called on critics of El Salvador’s Bitcoin investment to retract their statements, apologize or at least acknowledge the current profitable situation. Bukele emphasized that responsible journalism must accept this new reality. He insisted that journalists should accept this with the same ferocity with which they had reported previous losses. In this regard, Bukele underlined the following points:
We are fully aware that the BTC price will continue to fluctuate in the future. This does not affect our long-term strategy. (…) We will see… Stay tuned!
This announcement marks an important moment for El Salvador’s bold attempt to accept Bitcoin as legal tender. The emergence of profits challenges narratives that the move is financially unsound. It also sheds new light on cryptocurrency’s potential as a national asset.
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