El Salvador: the holding of Bitcoin is yielding $357 million in unrealized profits

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On Sunday, the President of El Salvador, Nayib Bukele, showed that the Bitcoin holding is yielding a substantial 357 million dollars in unrealized profits. Currently, El Salvador holds 6,182 BTC. 

El Salvador and the Bitcoin holding: Bukele shows unrealized profits of $357 million

El Salvador, the country with Bitcoin as legal tender since 2021, is continuing with its strategy of accumulation and holding of BTC. 

On Sunday, the President of El Salvador, Nayib Bukele, publicly demonstrated that this strategy is now yielding unrealized profits of 357 million dollars. 

In practice, Bukele showed that El Salvador’s position as a holding of BTC has appreciated by over 69 million dollars year over year, highlighting the resilience of the strategy amid market volatility.

At the time of writing, on the website of the Bitcoin Office of the government of El Salvador, it is possible to verify that the country’s wallet holds a total of 6,182 BTC, equivalent to over 652 million dollars.

Not only that, treasury operations confirm that El Salvador continues to purchase 1 BTC per day, as per strategy. 

El Salvador and the holding of Bitcoin: price, sentiment, and forecasts for BTC

The results of El Salvador are linked to the trend of the Bitcoin price.

In fact, the price of BTC has returned above the fateful threshold of $100,000 exactly since May 8, after 3 months of failing to do so. In fact, since that moment, BTC has been holding steady at the six-figure price. 

Specifically, at the time of writing, BTC is worth $105,400, almost reaching $107,000 during this last week. 

The Bitcoin Fear and Greed Index remains in the green zone of “enthusiasm”, at a score of 71. 

Not only that, speaking of Bitcoin price forecasts, recently there have been some very optimistic revelations.

In fact, the rockstar of investments and CEO of Ark Invest, Cathy Wood, stated that BTC could reach 700,000 and 750,000 dollars by 2030. This would be a Bitcoin price prediction for the most cautious scenario.

Wood has indeed stated that with the most bullish target, there would even be the possibility that her prediction for the price of Bitcoin could rise up to 1.5 million dollars. 

The overtaking of Metaplanet as a BTC holder

The revelation by Bukele about the results of El Salvador and the unrealized profits as a holder of BTC also comes after other global news. 

As in the case of the investment company listed in Tokyo, Metaplanet, which would have surpassed even El Salvador with its new massive acquisition of Bitcoin.

In fact, it seems that Metaplanet has purchased 1,004 BTC for a value of approximately 104.3 million dollars, reaching a total of 7,800 BTC. 

The Japanese company began accumulating Bitcoin in April 2024, drawing inspiration from the Treasury allocation strategies used by Strategy.