El Salvador's President Bukele Declares Success: Bitcoin Investment Shows Positive Returns

President Bukele of El Salvador has reaffirmed his commitment to holding onto the country's Bitcoin investment in the wake of a profitable turn. Following Bitcoin's surge to $42,000, Bukele emphasized the notable profit exceeding $3 million.

"We have no intention of selling; that has never been our objective,"

Bukele stated. 

"We are fully aware that the price will continue to fluctuate in the future, but this does not impact our long-term strategy."

El Salvador's #Bitcoin investments are in the black!

After literally thousands of articles and hit pieces that ridiculed our supposed losses, all of which were calculated based on #Bitcoin’s market price at the time...

With the current #Bitcoin market price, if we were to sell… pic.twitter.com/gvl2GfQMfb

— Nayib Bukele (@nayibbukele) December 4, 2023

This announcement stands in contrast to Bitsday estimate from three weeks ago, which projected a loss of approximately $16 million. Recent developments suggest a significant reversal in El Salvador's Bitcoin investment, with Bukele's statements indicating the country's ownership of around 2,744 bitcoins at an average cost just below $42,000. This reflects a substantial positive shift in the financial outlook of the investment, highlighting resilience amid the inherent fluctuations of the cryptocurrency market and a resolute commitment to El Salvador's enduring cryptocurrency strategy.

Read More: LunarCanvass: DOGE-1 Odyssey