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The cryptocurrency market, which brought big gains to investors last year, has spent the last few months in a very shocking way. While this process had major implications
The cryptocurrency market, which brought big gains to investors last year, has spent the last few months in a very shocking way. While this process had major implications for investors just entering the market, one issue in particular about cryptocurrencies has been a source of curiosity: El Salvador, due to its investments in Bitcoin. how much damage has been done?
By adopting Bitcoin as its official currency in September 2021, El Salvador managed to profit from the cryptocurrency in the first place. El Salvador, which has invested tens of millions of dollars so far, naturally lost its investment with the fall of the market. This damage will not be insignificant level.
This loss was pretty easy to track, as El Salvador’s president Nayib Bukele posts on his Twitter account every time the country buys Bitcoin. So much so that a website has been created where you can see El Salvador’s Bitcoin portfolio.
According to the data on the website “Nayib Bukele Portfolio Tracking”, El Salvador has suffered a 57% loss on its $375 million investment to date. owned by El Salvador 2,381 Bitcoins while the total amount spent for this was 107 million 155 thousand dollars. What is the value of these Bitcoins today? 45 million 585 thousand equal to dollars.
Source: Web Tekno
Alice Smith is a seasoned journalist and writer for Div Bracket. She has a keen sense of what’s important and is always on top of the latest trends. Alice provides in-depth coverage of the most talked-about news stories, delivering insightful and thought-provoking articles that keep her readers informed and engaged.
