The Central American country of El Salvador, which broke new ground by accepting Bitcoin as legal tender, is reaping the rewards of its bold Bitcoin move.
According to current data, El Salvador's accumulated Bitcoin assets as of November 18, 2022 reached 722 BTC, resulting in an 81% gain.
On-chain data analysis platform Spot On Chain shared the current status of El Salvador's BTCs with the recent increase in Bitcoin in a post from the X account.
🇸🇻 El Salvador’s bold Bitcoin bet is paying off!
Back on Nov 18, 2022, when $BTC hit $16.7K, President @nayibbukele committed to buying 1 $BTC daily.
Fast forward, they’ve now accumulated 722 $BTC at an average price below $42K, seeing gains of $24.54M (+81%). Their starting… pic.twitter.com/DtAMsKRK54
— Spot On Chain (@spotonchain) November 8, 2024
As is known, El Salvador President Nayib Bukele has committed to purchasing 1 BTC per day for El Salvador starting from November 18, 2022.
Since then, El Salvador has been buying 1 BTC every day, accumulating 722 BTC. Acquired at an average price of less than $42,000, these BTCs have gained an 81% gain, worth approximately $24.54 million.
According to Arkham data, the El Salvador government has a total of 5,928 Bitcoins in its wallet.
*This is not investment advice.
