El Salvador's Bitcoin Bet Pays Off: $3M Gain Sparks President's Demand for Critics' Apologies

December 4, 2023
El Salvador's Bitcoin Bet Pays Off: $3M Gain Sparks President's Demand for Critics' Apologies
  • El Salvador's Bitcoin investment has yielded over $3 million in profits, with a portfolio value of $131 million.

  • President Nayib Bukele defends the decision to make Bitcoin a legal tender in the country.

  • Despite previous unrealized losses, the recent surge in Bitcoin's price has led to profitability.

  • Bukele stresses the importance of understanding price fluctuations and is committed to a long-term Bitcoin strategy.

  • El Salvador's experience with Bitcoin provides a valuable case study for other countries exploring the fusion of traditional finance and cryptocurrency.

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