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<p>El Salvador President Nayib Bukele’s bet on Bitcoin is looking good, with the nation’s investment soaring past $159 million and profits reaching almost $54 million.</p>
<p><span style="font-weight: 400;">El Salvador’s president </span><a href="https://insidebitcoins.com/news/el-salvador-is-going-to-buy-one-bitcoin-per-day-from-today" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">announced</span></a><span style="font-weight: 400;"> in mid-November 2022 that the country’s government would purchase one BTC daily. It has since accumulated about <a href="https://bitcointreasuries.net/entities/48" rel="noopener noreferrer nofollow">2,380</a> BTC at an average price of $44,300 that are worth about $159 million with BTC trading at $66,973 as of 10.57 a.m. EST.&nbsp;</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Still waiting… <a href="https://t.co/FkKs2rRP1Q" rel="noopener noreferrer nofollow">https://t.co/FkKs2rRP1Q</a> <a href="https://t.co/X6UyAsoTIz" rel="noopener noreferrer nofollow">pic.twitter.com/X6UyAsoTIz</a></p>
 <p>— Nayib Bukele (@nayibbukele) <a href="https://twitter.com/nayibbukele/status/1764711900141527470?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 4, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 id="el-salvador-president-hits-back-at-critics">El Salvador President Hits Back At Critics</h2>
<p><span style="font-weight: 400;">Bukele initially faced a backlash for his decision, but hit back hard last month after the king of cryptos surged.</span></p>
<p><span style="font-weight: 400;">“They wrote thousands of articles about our supposed losses,” when the crypto’s price was low, he tweeted.&nbsp;</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">When <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>’s market price was low, they wrote literally thousands of articles about our supposed losses.</p>
 <p>Now that <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>’s market price is way up, if we were to sell, we would make a profit of over 40% (just from the market purchases), and our main source of BTC is now our…</p>
 <p>— Nayib Bukele (@nayibbukele) <a href="https://twitter.com/nayibbukele/status/1762867369217532125?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 28, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><span style="font-weight: 400;">Bukele has said the nation has no intention of selling its BTC. The experts, analysts and journalists who wrote “hit pieces” criticizing the decision to purchase BTC are “totally silent now,” he said.</span></p>
<p><span style="font-weight: 400;">Bukele was recently </span><a href="https://insidebitcoins.com/news/el-salvadors-bitcoin-friendly-president-nayib-bukele-heads-for-re-election" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">re-elected</span></a><span style="font-weight: 400;"> for another five-year term as El Salvador’s president.&nbsp;</span></p>
<h3 id="span-style-font-weight-400-related-articles-span"><span style="font-weight: 400;">Related Articles:</span></h3>
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El Salvador Earns $54 Million Profit On Bitcoin Investment As Nation’s BTC Holdings Surge Past $159 Million

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Inside Bitcoins

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