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Post: El Salvador’s Bitcoin Treasury Tops $200 Million with Strategic Purchase Plan

El Salvador’s Bitcoin Treasury Tops $200 Million with Strategic Purchase Plan

Key Points:

  • El Salvador’s Bitcoin stash is now valued at over $200 million.
  • President Nayib Bukele’s Bitcoin buying strategy has yielded a 70% profit on the dollar-cost average purchase price.
  • The country’s crypto treasury has made $85 million in profit, with Bitcoin prices hitting a new all-time high above $72,000 on March 11.
  • El Salvador began buying BTC in September 2021 when it became legal tender, with the first purchase made at a price of $51,769 per coin.

El Salvador’s Bitcoin Initiative:

El Salvador has seen significant returns on its Bitcoin investments, with the value of its Bitcoin holdings exceeding $200 million. President Nayib Bukele’s strategic approach to Bitcoin purchases has resulted in a 70% profit on the average purchase price. Notably, the country’s crypto treasury has gained $85 million in profit, thanks to Bitcoin’s recent surge to over $72,000 in March 2022. This success stems from El Salvador’s decision to adopt Bitcoin as legal tender in September 2021, kickstarting its investment journey with a purchase when Bitcoin was priced at $51,769 per coin.

Hot Take:

El Salvador’s venture into Bitcoin has proven to be a lucrative move, showcasing the potential benefits of integrating cryptocurrencies at a national level. President Bukele’s proactive approach and the country’s profitable Bitcoin treasury highlight the evolving landscape where digital assets are reshaping traditional financial systems.

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