In 2021, when El Salvador chose to be the first country in the world to use bitcoin as legal tender, it raised a lot of eyebrows. President Nayib Bukele shared an update on Sunday about the country’s Bitcoin reserve, proving that the decision is paying off. From a just $287 million investment, El Salvador has managed to gain over $357 million, more than doubling its initial investment within four years. El Salvador’s Unrealised Gains from Bitcoin Grow to $357 Million Though the gains are unrealised in nature, El Salvador is doubling down on its Bitcoin reserves this year. Recently, the International Monetary Fund (IMF) issued a loan of $1.4 billion to the Central American country with a strict precondition that it would reduce its BTC purchases. However, per the data from the Salvadorian government’s Bitcoin office, it continues to purchase almost one BTC daily, reaching over 6100 BTC. The substantial… Read More at Coingape.com
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