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Bitcoin new ATH pushes El Salvador’s unrealized profit over $360 million

Author: Content Editor
El Salvador has seen significant profits on its Bitcoin investment, with its portfolio briefly surpassing $360 million in unrealized profits. The country's president, Nayib Bukele, shared that its investment has already doubled in value. El Salvador currently holds 5,966 Bitcoins, with its acquisition now valued at $632.65 million, a 128% increase. However, the success of El Salvador's Bitcoin reserve strategy has not convinced international organizations, such as the International Monetary Fund (IMF). The IMF wants El Salvador to remove the law mandating the acceptance of Bitcoin as legal tender and make it voluntary for businesses to accept BTC. The impact on Bitcoin adoption in the country might be minimal as local adoption is already low. Despite the IMF's opposition, other countries and states, such as Bhutan, Russia, Thailand, Pennsylvania, Florida, Wisconsin, and Michigan, are considering the idea of Bitcoin reserves.

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