• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
Bitcoin, BTC, El Salvador

El Salvador’s Bitcoin Dream Pays Off 83M In Profit, VC Billionaire Says “It’s Taking Off”

Rubmar Garcia
by Rubmar Garcia
1 year ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin’s price has been exhibiting an incredible performance during this bull run, with many analysts suggesting that the all-time high (ATH) peaks seen during this last week are just the beginning.

According to Binance, every single BTC investor is now in profit. This includes those who entered the market in 2021 when the flagship cryptocurrency reached its previous ATH of $69,000. El Salvador is among the investors seeing massive green numbers, as the country has bet on Bitcoin since 2021.

Related Reading: White House Forecasts Bitcoin Surge To $250,000, Expert Reveals

El Salvador’s Bitcoin Dream Becoming A Reality

El Salvador started its Bitcoin journey in September of 2021 when the Central American nation bought its first 400 BTC at around $51,769 per coin. Since then, the country’s treasury has amassed 2,861 BTC.

Two weeks ago, when the price of Bitcoin was around $60,000, president Bukele denied any intention to sell the country’s holdings. However, he highlighted that the prices at the time would make the nation profit over 40% from market purchases.

El Salvador is now in a $83m profit on their #Bitcoin investment strategy! 🚀 pic.twitter.com/zj6RGn8hjW

— Crypto Rover (@rovercrc) March 11, 2024

With the current market prices, El Salvador’s profit margin has increased even more to 62%. Remarkably, the country has made over $83 million in unrealized profits from its Bitcoin holdings.

To the Salvadorian president, 1 BTC = 1 BTC, but if we convert the treasury’s massive holdings to fiat, the country will have over $204.4 million worth of Bitcoin at the time of writing.

President Nayib Bukele responded to the X post that announced the news, listing the country’s different methods to earn more bitcoin.

The country receives Bitcoin revenue from the passport program and from converting BTC to USD for local businesses. Additionally, it receives revenue from mining and government services.

Moreover, the country recently launched the “Freedom Visa” program alongside Tether. The citizenship-by-investment program will allow 1,000 people per year to request residency in the country after investing $1,000 in BTC or USDT.

Tim Draper Praises El Salvador’s BTC Adoption

Venture Capitalist Tim Draper recently joined the Web3 Deep Dive channel for an interview to discuss Bitcoin, crypto politics, and more. During the interview, Draper discussed his view on El Salvador’s current position now that Bitcoin is soaring.

The VC billionaire believes that if Bitcoin’s price hit $100,000, El Salvador would be able to pay back to the International Monetary Fund (IMF) and “never talk to them again.” As a result, Draper considers that the country is “taking off” and is a prospect to become “one of the most attractive countries in the world to go live in.”

NEW: Tim Draper predicts 🇸🇻 El Salvador's #Bitcoin journey could vault it into the ranks of the world's wealthiest nations. 💰🚀 pic.twitter.com/jh4lNwoceU

— Simply Bitcoin (@SimplyBitcoinTV) March 10, 2024

El Salvador could go from one of the poorest, most insecure countries in the world to one of the richest, most innovative countries within the next 30-40 years, according to the Venture Capitalist.

This would come to be thanks to the country’s investment in BTC and the embracement of the crypto industry and its innovations during this crucial period.

Draper also took the time to comment on the countries and individuals resisting crypto adoption, citing control and rejection of change as the reasons behind it. Seemingly taking a dig at the US, the VC Billionaire said:

I think we are a country of innovators and pioneers. I think we want to keep being a country of innovators and pioneers.

Despite some crucial steps, like the US Securities and Exchange Commission’s (SEC) approval of spot Bitcoin ETFs (exchange-traded funds), the government has not made the regulatory landscape easy for investors to navigate.

Undoubtedly, the Biden administration has faced criticism for its regulatory stances on cryptocurrencies and the crypto industry. As a result, investors are keeping a close eye on the presidential candidate’s cryptocurrency politics for the upcoming US elections.

Related Reading: Trump Takes A Stance: No Crackdown On Bitcoin And Cryptocurrencies If Elected President

BTC; BTCUSDT Bitcoin

BTC is trading at $71,936.11 in the 1-day chart. Source: BTCUSDT on TradingView.com
Featured image from www.slon.pics on Freepik , Chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Rubmar Garcia

Rubmar Garcia

Follow

Rubmar is a crypto enthusiast who likes learning and improving constantly. She enjoys reporting on the latest news and developments in the crypto industry. Rubmar also enjoys scrapbooking, crafting, simulation games, and watching football.

Full Profile

Related Posts

bitcoin

Sora Ventures Unveils Asia’s First Bitcoin Treasury Fund With $1 Billion Buying Plan

12 hours ago
Bitcoin

Looking For A Good Bitcoin Entry? Crypto Research Firm Reveals The Best Time To Buy BTC

18 hours ago
Bitcoin Buying Frenzy Ahead As Eric Trump Predicts ‘Floodgates Are Opening’

Bitcoin Buying Frenzy Ahead As Eric Trump Predicts ‘Floodgates Are Opening’

23 hours ago
Bitcoin Holdings By Public Firms Cross 1 Million BTC As Asset Gains Traction

Bitcoin Holdings By Public Firms Cross 1 Million BTC As Asset Gains Traction

1 day ago
Bitcoin Mining

Bitcoin Miners Brace For 5% Difficulty Spike To Fresh Record

1 day ago
The Bitcoin Liquidity Battle Intensifies: Coinbase vs. Kimchi Premium

The Bitcoin Liquidity Battle Intensifies: Coinbase vs. Kimchi Premium

1 day ago

Premium Sponsors

Press Releases

  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    20 hours ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    20 hours ago
  • miner

    Cardano (ADA) Market Outlook: Long-term Potential Passive...

    21 hours ago
  • etnminer

    How to Play to Earn Crypto in 2025: Discover 6 Most...

    1 day ago
  • miner

    BAY Miner Cloud Mining App Launches with ETH and BTC Users...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.