El Salvador's Bitcoin Portfolio

SOURCE www.breitbart.com
President of El Salvador Nayib Bukele shared the country's Bitcoin portfolio, showing over $573 million worth of bitcoin and a 113.84% profit. El Salvador adopted bitcoin as legal tender in 2021, investing $268 million in bitcoin. Bukele's bitcoin policies have faced criticism from international organizations like the IMF.

Key Points

  • El Salvador's Bitcoin portfolio worth over $573 million
  • Country made a 113.84% profit from bitcoin surge
  • El Salvador invested $268 million in bitcoin
  • $400 million of bitcoin holdings stored in a 'cold wallet'

Pros

  • El Salvador has made a significant profit from its bitcoin reserves
  • Adoption of bitcoin as legal tender has put El Salvador on the map in the cryptocurrency world

Cons

  • Criticism from international organizations like the IMF regarding the potential destabilization of El Salvador's economy due to bitcoin adoption