El Salvador’s Bold Move into Bitcoin Proves Lucrative

President Nayib Bukele of El Salvador, known for his distinctive red-orange laser eyes, faced significant criticism for his country’s embrace of Bitcoin. However, the recent surge in Bitcoin price near $69,000 have shown that the gamble has paid off handsomely, with the nation seeing a windfall of over $60 million from its Bitcoin investments. Similarly, MicroStrategy, a prominent US firm known for its substantial Bitcoin holdings, has reaped even greater profits.
Initially, as the price of Bitcoin dipped, President Nayib Bukele was subject to ridicule. Bukele’s decision to invest in Bitcoin for his country back in October 2021 was heavily scrutinized, particularly during the period when the investment was in the red. Media outlets highlighted El Salvador’s apparent losses, suggesting that the Bitcoin policy would lead the country towards financial ruin. Even international financial institutions like the IMF and World Bank urged Bukele to reconsider his approach.

However, the tables have turned. With Bitcoin now soaring to all-time highs, President Bukele’s optimism is palpable. In a recent tweet, he exclaimed, “If we sold now, we would make a profit of more than 40%,” indicating a significant turnaround in the country’s fortunes. As of February 28th, according to the Nayib Bukele tracker, El Salvador possesses 1,853 Bitcoins, valued at $187 million. This translates to a remarkable 54% profit, amounting to approximately $65 million – a substantial gain that Bukele intends to hold onto, affirming, “In the end, 1 BTC = 1 BTC.”

While $65 million is no small sum for a country like El Salvador, it must be viewed in context. With tax revenues totaling around seven billion dollars, Bitcoin profits constitute less than one percent. Nevertheless, they offer a valuable asset that can serve as collateral for obtaining low-interest loans to finance various development projects.

On a grander scale, MicroStrategy, a publicly traded US company renowned for its significant Bitcoin holdings, has seen astronomical gains. Currently, the firm boasts a staggering 193,000 Bitcoins, valued at $12.76 billion. With an average purchase price exceeding $30,000, MicroStrategy has realized a remarkable profit of 108%, totaling $6.5 billion. This remarkable success underscores the efficacy of the Bitcoin strategy for MicroStrategy and its CEO, Michael Saylor.

Notably, MicroStrategy’s stock has also reached unprecedented heights, with a share price of $1,172 and a market capitalization of approximately $20 billion. Bitcoin holdings now constitute more than half of the company’s overall value, signaling the profound impact of its Bitcoin investment strategy.


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Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past.

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