The president of El Salvador, Nayib Bukele, took to Twitter to share the latest news of the country’s progress after making the flagship currency its national currency.
Bukele proudly stated that the country’s investment in bitcoin has silenced all media outlets that ridiculed the decision. Not only will El Salvador be able to cover all the funds it invested in BTC, it would also make a few million USD on top of that if it sold all its bitcoin now. But Bukele says they have no intention of selling.
Early bitcoin investor and advocate Max Keiser moved to El Salvador to help Bukele.
“El Salvador’s bitcoin investments are in the black.”
Bukele proudly declared, “El Salvador’s #Bitcoin investments are in the black!” He explained that at the current price of Bitcoin, if El Salvador decided to sell all of its BTC, they would “not only recover 100% of our investment, but also make a profit of $3,620,277.13” (as of this moment).
Nayib Bukele reminded the community that three years ago, when he decided to put the country’s economy on a bitcoin-powered track and make BTC the national currency of El Salvador, there were thousands of articles ridiculing their supposed losses on this investment.
The president insisted that they have no intention of selling their BTC, and that has never been the goal. He added: “We are fully aware that the price will continue to fluctuate in the future, it doesn’t affect our long-term strategy.
He believes that “the naysayers and the authors of these hit pieces” should retract their negative statements and “issue retractions, apologies, or at least acknowledge that El Salvador is now making a profit, just as they repeatedly reported that we were making losses.
Earlier today, bitcoin managed to hit $41,900 for the first time since April last year.
