El Salvador's Bukele Says Value of Country's Bitcoin Holdings Up Over 40% (2024)

If El Salvador liquidated bitcoin holdings today, it would book a profit of nearly $41.6 million, or more than 40%, according to a post on X by the country's president.

"When Bitcoin's market price was low, they wrote literally thousands of articles about our supposed losses," Bukele wrote on the social media platform. "Now that #Bitcoin’s market price is way up, if we were to sell, we would make a profit of over 40%."

Bukele also noted that the country's main source of additional bitcoin was its citizenship program which offers expedited citizenship to those who make a BTC "donation" to the government (amount not defined). The country, he continued, has no intention of selling its bitcoin.

El Salvador's holdings were accumulated at an average price of $44,292. In total, the country has 2,381 bitcoins in its treasury.

The country has also seen its bonds surge in the last year, with a debt due in 2052 trading above 80 cents on the dollar, according to FactSet data.

Bukele won re-election in early February with more than 85% of the vote.