El Salvador’s Bitcoin Bet Pays Off with Over $525M Profit
El Salvador’s bold Bitcoin experiment has reaped massive rewards, with the government now reporting a profit exceeding $525 million on its holdings.
This milestone comes as Bitcoin recently soared to $90,000, setting a new all-time high and climbing nearly 27% in just a week, as shown on CoinMarketCap. Since adopting Bitcoin as legal tender in 2021, El Salvador has championed the cryptocurrency, and this recent price surge is solidifying the country’s commitment.
The financial world has increasingly embraced Bitcoin this year, with major players like BlackRock and Fidelity backing the asset. The political shift with Donald Trump’s election is also expected to foster a more crypto-friendly regulatory landscape, adding momentum to Bitcoin’s rise.
El Salvador isn’t the only country benefiting from Bitcoin’s rally; Bhutan’s holdings have crossed the $1 billion mark, a substantial figure that now constitutes a third of the nation’s GDP. For both countries, Bitcoin’s performance is shaping up to be a significant economic boost.
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Bitcoin Price Could Surge to Unbelievable Heights, According to Key AdvocatesEl Salvador’s President Nayib Bukele recently took to X (formerly Twitter) to share his satisfaction with the decision, saying, “I told you so.” Meanwhile, some analysts predict that Bitcoin could reach $100,000, potentially even before Trump’s inauguration.
