Success: El Salvador Boasts Hundreds of Millions of Dollars in Bitcoin Revenue
Bitcoin.com
Success: El Salvador Boasts Hundreds of Millions of Dollars in Bitcoin Revenue
El Salvador, the first country to introduce bitcoin as legal tender, has experienced significant success with its cryptocurrency experiment. President Nayib Bukele, a bitcoin enthusiast, has disclosed the revenue that the country has achieved with its “one bitcoin a day” reserve strategy.
On social media, Bukele posted an image showing that El Salvador has $357 million in unrealized revenue in its current bitcoin portfolio, having invested $287 million. El Salvador has continued to purchase bitcoin even after finalizing a credit facility deal with the International Monetary Fund (IMF), which established a ban on bitcoin purchases by the public sector as a condition for the disbursement of $1.4 billion.
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