El Salvador's Bitcoin Investment 'In the Black,' Says President Bukele

"We have no intention of selling," Bukele added.

AccessTimeIconDec 4, 2023 at 1:03 p.m. UTC
Updated Mar 8, 2024 at 6:04 p.m. UTC
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The president of El Salvador took to the X platform early Monday morning to note his country's bitcoin (BTC) investment was now profitable by more than $3 million following the crypto's rally to the $42,000 area over the weekend.

"We have no intention of selling; that has never been our objective," he added. "We are fully aware that the price will continue to fluctuate in the future, this doesn’t affect our long-term strategy."

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Based on public statements from Bukele, CoinDesk three weeks ago calculated that the country at that time owned roughly 2,744 bitcoins at an average price a bit lower than $42,000 and was sitting on a loss of about $16 million.

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Stephen  Alpher

Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.


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