Nayib Bukele has said that the Bitcoin investments of El Salvador are in the black. The President has hinted that they have not just recovered 100% of the investments but have also generated profits based on the market price as of December 4, 2023.
Nayib has said that profits from Bitcoin investments were worth approximately $3,620,277.13 at the time of the official announcement.
He has sought journalists and media channels to retract their statements, which were meant to degrade their investments in cryptocurrency. He has further said that most of the hit pieces were drafted just to malign their stand with digital tokens. They have been quick enough to judge the BTC investments at a time when the market was not precisely doing its best on the board.
Bukele has urged them to write a piece with the same intensity, reporting where the investments stand at the moment.
He has further highlighted that investments in Bitcoin are for the long term. Although the announcement does not provide specific details, it clearly states that they will continue to hold the token even in the event of bearish market sentiments.
At the time of drafting this article, Bitcoin price has moved way above the $40k mark. Holders are speculating that it could touch the next resistance level of $45k before the end of this year. The current trading value of $41,732.26 is a slip of 0.08% in the last 24 hours. However, it is an increase of 12.66% in the last 7 days and an increase of 18.92% in the last 30 days.
One can confidently presume that the crypto winter is over. Any further fall to come could be momentary, only for a more substantial rebound.
Nayib Bukele has reshared a post on X, formerly Twitter, reminding everyone that journalists had once predicted the country would default on its debt because of crypto gambling. Many journalists and experts had said that El Salvador was the top country to default on its payments.
Experts who have visited the country say that it is purely the innovative ideas of the president that have boosted the growth of the country’s infrastructure.
MacroScope, an X user, visited El Salvador and shared that they would not have been there if it were not for crypto, adding that many more had visited El Salvador only because of digital tokens. MacroScope believes that El Salvador is on a path to becoming the Latin American version of Singapore by being creative in business, growth-oriented, and tough on crimes.
Nayib Bukele has asked journalists not just to retract their previous statements but also to issue apologies for how they had reported declining speculations. Or, the best they can do is acknowledge that the country is now fetching profits on its BTC holdings, added Nayib Bukele in the post published on X.