El Salvador’s Bitcoin treasury is now $85M in profit amid BTC rally
The Central American nation’s Bitcoin stash is now worth more than $200 million, and recent government initiatives have been adding even more.
President Nayib Bukele’s Bitcoin buying strategy has been paying off for El Salvador, which is now making 70% on the dollar cost average purchase price, following a recent Bitcoin rally.
El Salvador’s crypto treasury is now $85 million in profit, according to the Nayib Tracker website, with Bitcoin prices hitting a new all-time high above $72,000 on March 11.
The Central American nation began buying BTC in September 2021 when it made the asset legal tender in the country. At the time of that first 200-coin purchase, Bitcoin was trading for $51,769.
...