El Salvador’s Bitcoin Bet Is Now 3 Years Old, Here’s How It’s Going So Far
Summary
El Salvador adopted Bitcoin as legal tender on September 7, 2021, with its first purchase of 400 BTC at an average price of $46,811. The country has since increased its holdings to 5,867 BTC, with an average cost of $43,884. As of now, the Bitcoin price exceeds $55,000, resulting in a profit of $34.55 million and a 25.88% gain over three years. El Salvador ranks as the third-largest government holder of Bitcoin globally, behind the US and UK. President Nayib Bukele has stated there are no plans to sell the BTC and emphasizes a one-to-one valuation approach. Adoption remains voluntary, with both Bitcoin and the US dollar in use. The country has launched a BTC monitoring website for tracking metrics and holdings.
