Bitcoin

<div class="cryptonews">
 <p class="is-style-lead">El Salvador’s president Nayib Bukele announces a complete recovery of the country’s Bitcoin investment, yielding a $3.62 million profit.</p>
 <p class="is-style-default">After facing criticism over supposed losses, President Nayib Bukele took to X to announce that El Salvador’s Bitcoin (BTC) investment has recovered 100% of its initial investment and generated a profit of $3.62 million at the asset’s current market price.&nbsp;</p>
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    <p lang="en" dir="ltr">El Salvador's #Bitcoin investments are in the black!<br><br>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…<br><br>With the current #Bitcoin market price, if we were to sell… pic.twitter.com/gvl2GfQMfb</p>— Nayib Bukele (@nayibbukele) December 4, 2023
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 <p>President Bukele showed that the country’s portfolio currently sits at $130.8 million, an all-time increase of 2.84%, with profit realization based on the current Bitcoin market price. The <a rel="noopener noreferrer nofollow" title="president" href="https://thebittimes.com/tag/president.html">president</a> emphasized that selling Bitcoin is not the objective, as El Salvador remains committed to its <a rel="noopener noreferrer nofollow" title="long-term" href="https://thebittimes.com/tag/long-term.html">long-term</a> <a rel="noopener noreferrer nofollow" title="strategy" href="https://thebittimes.com/tag/strategy.html">strategy</a>.&nbsp;</p>
 <p>Bukele confirms that despite this <a rel="noopener noreferrer nofollow" title="success" href="https://thebittimes.com/tag/success.html">success</a>, the country has no plans to sell its Bitcoin holdings.</p>
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 <p>While acknowledging the cryptocurrency’s price fluctuations, the <a rel="noopener noreferrer nofollow" title="president" href="https://thebittimes.com/tag/president.html">president</a> called on critics to retract their statements, issue apologies, or recognize the country’s newfound profitability.&nbsp;</p>
 <p>Bukele concluded his post by challenging actual journalists to report this new reality, inviting them to stay tuned for updates on El Salvador’s Bitcoin journey.</p>
 <p>The news comes just shy of two months later than an&nbsp;earlier report&nbsp;that revealed that El Salvador was on the verge of launching its inaugural Bitcoin mining pool through a partnership between Volcano Energy and Luxor Technologies.&nbsp;</p>
 <p>The initiative was said to decentralize mining and leverage renewable energy as part of the country’s larger demonstration to become a major crypto hub.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Binance gets fully licensed in El Salvador
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/el-salvador-s-president-affirms-long-term-bitcoin-strategy-is-successful-tbt72558.html">https://thebittimes.com/el-salvador-s-president-affirms-long-term-bitcoin-strategy-is-successful-tbt72558.html</a></p>

El Salvador’s president affirms long-term Bitcoin strategy is successful

TheBitTimes

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