TechFlow News, according to the UK's Independent, despite seeing profits of over 50%, El Salvador President Bukele stated he has no intention of selling the country's substantial Bitcoin holdings.
El Salvador holds approximately 2,380 bitcoins, acquired at an average price of $44,300, meaning its $105 million investment is now worth more than $155 million.
Bukele said: "When Bitcoin prices were low, they wrote thousands of articles about our so-called losses. Now that the market price of Bitcoin has risen significantly, we would realize a profit of over 40% if we sold. Of course, we won't sell. Those so-called analysts and experts are completely silent now. Remember this the next time they spread lies about El Salvador." Under El Salvador's Bitcoin law, every citizen is eligible for $30 worth of free Bitcoin to incentivize adoption of the cryptocurrency. (Jinshi)
