El Salvador's Bukele Says Value of Country's Bitcoin Holdings Up Over 40%

• El Salvador's bitcoin holdings are worth more than $147 million dollars, a profit of more than 40%
• The country first started buying bitcoin in September 2021

If El Salvador liquidated bitcoin holdings today, it would book a profit of nearly $41.6 million, or more than 40%, according to a post on X by the country's president.

"When Bitcoin's market price was low, they wrote literally thousands of articles about our supposed losses," Bukele wrote on the social media platform. "Now that #Bitcoin’s market price is way up, if we were to sell, we would make a profit of over 40%."

When #Bitcoin’s market price was low, they wrote literally thousands of articles about our supposed losses.

Now that #Bitcoin’s market price is way up, if we were to sell, we would make a profit of over 40% (just from the market purchases), and our main source of BTC is now our…

— Nayib Bukele (@nayibbukele) February 28, 2024

Bukele also noted that the country's main source of additional bitcoin was its citizenship program which offers expedited citizenship to those who make a BTC "donation" to the government (amount not defined). The country, he continued, has no intention of selling its bitcoin.

El Salvador's holdings were accumulated at an average price of $44,292. In total, the country has 2,381 bitcoins in its treasury.

The country has also seen its bonds surge in the last year, with a debt due in 2052 trading above 80 cents on the dollar, according to FactSet data.

Bukele won re-election in early February with more than 85% of the vote.

Bitcoin is currently trading above $61,000, according to CoinDesk Indices data.