Buy Биткоин BTC
Bitcoin (BTC)
Buy Эфир ETH
Ethereum (ETH)
Buy BNB
BNB (BNB)
Buy Ripple XRP
Ripple (XRP)
Buy Tron TRX
Tron (TRX)
Buy Polygon Matik
Polygon (POL)
Buy Solana SOL
Solana (SOL)
Buy Dogecoin DOGE
Dogecoin (DOGE)
Buy Avalanche AVAX
Avalanche (AVAX)
Buy Cardano ADA
Cardano (ADA)
Buy Polkadot DOT
Polkadot (DOT)
Buy Syscoin SYS
Syscoin (SYS)

Amid Bitcoin's rise, the value of El Salvador's portfolio exceeded $185 million

Market and Events: Amid Bitcoin's rise, the value of El Salvador's portfolio exceeded $185 million

On March 5, 2024, the value of bitcoin on the #Coinbase platform reached an all-time high (ATH) of $69,129, breaking the previous record. At the same time, the valuation of El Salvador's portfolio rose to more than US$185 million on the back of this price jump.

According to the Nayibtracker website, the country owns 2,855 BTC purchased at an average price of US$42,548. As a result, El Salvador's unrealized gains on bitcoin investments exceeded US$65 million.

Amid Bitcoin's rise, the value of El Salvador's portfolio exceeded $185 million
Salvador has a portfolio of 2,855 BTC. Source: Nayibtracker.

It is worth noting that in December 2023, El Salvador's bitcoin reserve became profitable for the first time. Prior to that, President Naive Bouquere announced that the country will invest 1 BTC daily from November 18, 2022. In the fall of 2021, El Salvador officially recognized bitcoin as legal tender, which drew criticism, particularly from the International Monetary Fund (#IMF).

In September 2022, the value of El Salvador's bitcoin funds plummeted 58%. Nevertheless, the country continued to actively invest in cryptocurrencies.

In addition, local authorities have introduced a number of programs to encourage the use of bitcoin. #Salvador offers citizenship to individuals who invest $1 million in bitcoins or USDT in local businesses. In addition, the government has authorized the issuance of bitcoin-linked bonds.

A survey conducted by Jose Simeon Cañas University found that 12% of Salvadorans will use bitcoin for transactions in 2023.

Share this news and win 10 USDT with daily contest on CryptoFingers Telegram.
Press Releases: MEXC Q3 2025 Report Highlights Market Leadership Across New Listings, Security, and Ecosystem Growth
Global cryptocurrency exchange MEXC has published its Q3 2025 Ecosystem & Growth Report, highlighting sustained expansion in listings, user activity, product innovation, security, and..
Artificial Intelligence (AI): DeepSeek dominates AI crypto trading competition
The Chinese AI system DeepSeek showed impressive results in an experimental crypto trading competition, where several models traded with the same capital of $10,000..
Press Releases: MEXC Launches USDT & USDC Staking Gala: Earn 15% APR With Flexible Redemption and Up to 2,926 USDT
MEXC, a leading global cryptocurrency exchange, has officially launched the USDT & USDC Staking Gala, offering users the opportunity to earn up to 15% APR through a flexible redemption..
Press Releases: MEXC Launches ENA Extravaganza with $1 Million Prize Pool, Zero-Fee Trading and Up to 600% APR Staking
MEXC, a leading global cryptocurrency exchange, announced the launch of the ENA Extravaganza in collaboration with Ethena, offering new and existing users a $1 million prize pool alongside..
⁝⁝⁝

Trending news

  • Artificial Intelligence (AI)
  • Altcoins
  • Bitcoin
  • DeFi
  • Ethereum
  • show more