Led by President Nayib Bukele, the country made bitcoin legal tender and began buying the crypto in September 2021.Read MoreFeedzy
Having invested more than $103.9 million purchasing Bitcoin (BTC) for the national treasury in the 10 months since making it legal tender, El Salvador’s holdings are now valued at $51.5M, or about a 50% loss.
Bitcoin’s price at press time was $22,400.
President Nayib Bukele has announced 10 purchases of bitcoin since September 2021, with the country at last check holding 2,301 bitcoin acquired at an average price of $45,171 each.
The country’s most recent buy was on May 9, when Bukele stepped in front of bitcoin’s decline then to purchase 500 coins for $15.3 million, or an average price of $30,744 each. Bukele, to this point, has not announced any purchases during the plunge of the past few days.
On Monday, El Salvador Finance Minister Alejandro Zelaya said the bitcoin losses posed “extremely minimal” risk to his country’s fiscal position, noting the amount foots to less than 0.5% of the government budget. He also reminded that any loss for now is unrealized as the country hasn’t sold any of its coins.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
BTC holds near $70,000 and outperforms major assets during Middle East tensions, even as derivatives…
Two Prime CEO Alexander Blume says the high yield product driving the buying surge carries…
Your day-ahead look for March 12, 2026Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
The futures-to-spot ratio has climbed to 5.1, reflecting a structural shift in how the market…
Bitcoin traded around $69,800 as open interest rose to $102 billion, suggesting defensive, bearish bets…
Bitcoin (BTC) is currently navigating a trading range between $60,000 and $73,000, entering what analytics…