El Salvador: the government’s BTC wallet exceeds 525 million dollars in profit

On Monday, the bitcoin wallet of the government of El Salvador surpassed 525 million dollars in profit, thanks to the new All-Time High (ATH) of BTC. Here are the details. 

El Salvador: the government’s BTC wallet exceeds $525 million thanks to the new ATH 

Monday, the bitcoin portfolio of the government of El Salvador exceeded 525 million dollars thanks to the new all-time high (ATH) of the BTC price.

In fact, while the price of BTC exceeded $89,000, setting its new record, the investments made by El Salvador in the leader of crypto have borne fruit. 

At the time of writing, the Ufficio Bitcoin government shows that the new balance of El Salvador’s BTC wallet is worth 518 million dollars. This decrease coincides with the price of BTC now down to 87,400$.

The President of El Salvador, Nayib Bukele, remains proud of his BTC accumulation strategy, sharing his comment on X:

“I told you so”

El Salvador and the government’s record BTC wallet: the President’s strategy

El Salvador, the country with Bitcoin as legal tender since September 2021, under the leadership of its President Bukele, started in November 2022 to purchase 1 Bitcoin per day. 

This is a true accumulation strategy that has led the government’s bitcoin wallet to hold today 5,932 BTC. 

All this is visible to the entire world, as a sign of transparency, thanks to the website created and published last May 2024.

Bukele won his second term as President of El Salvador last February 2024. 

Despite his great support for the leader of crypto, Bukele commented last August that in his opinion the adoption of Bitcoin in the country is not yet widespread as hoped.

This result is only the outcome of a free decision that Salvadorans have regarding the use of Bitcoin, even if the President maintains that if citizens increased adoption, more benefits could be obtained. 

MicroStrategy and the BTC wallet worth 20 billion dollars

And speaking of major accumulators of Bitcoin (BTC), one certainly cannot fail to mention the Business Intelligence company MicroStrategy. 

Last Monday, in fact, the BTC wallet of MicroStrategy exceeded the equivalent of 20 billion dollars.

The company founded by the well-known bitcoiner Michael Saylor has accumulated over 252,220 BTC, increased from the average purchase value by 104% while the price of BTC is at its new ATH.