El Salvador has seen a noteworthy increase in the value of its Bitcoin investments over the past two years. Previously below their initial purchase value, the country’s holdings now show unrealized gains of approximately $12.6 million, as reported by Nayibtracker.

This positive development was acknowledged by President Nayib Bukele, who expressed satisfaction with the profitability of the nation’s venture into cryptocurrency. The initial phase of El Salvador’s Bitcoin investment journey began in September 2021, with the acquisition of 700 units of Bitcoin at prices ranging from $47,250 to $52,670 per Bitcoin over two weeks.

Expanding its cryptocurrency portfolio further, El Salvador made its latest acquisition in November 2022 when Bitcoin’s value was around $27,780. With a total of 2,798 Bitcoin units valued at approximately $131.3 million, the nation’s average cost per Bitcoin stands at $42,440.

The recent surge in Bitcoin’s value, up by 168% annually, has contributed to El Salvador’s unrealized profits. With Bitcoin reaching $47,000 for the first time in nearly 20 months and increased trading volume across exchanges, the market is experiencing growing bullish sentiments.

Amid the excitement surrounding the SEC’s approval of the first-ever spot Bitcoin ETF and the upcoming halving, the Bitcoin market is showing positive signs that could bode well for El Salvador’s digital asset holdings.

Next Bitcoin halving just 15k blocks away

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