The Wall Street Journal
El Salvador’s Bitcoin Investments Have Turned a Profit, President Says
El Salvador President Nayib Bukele said Monday that his country’s bitcoin purchases were finally in the black, in a tweet that came shortly after bitcoin climbed above $40,000 for the first time in more than a year. The Central American country’s bitcoin portfolio has made a profit of $3.6 million, Bukele said, adding that he didn’t intend to sell the holdings. Despite being ridden by a huge national debt, El Salvador [adopted bitcoin](https://www.wsj.com/articles/bitcoin-comes-to-el-salvador-first-country-to-adopt-crypto-as-national-currency-11631005200) as legal tender in September 2021 and has since spent more than $100 million on bitcoin, according to analysts’ estimates based on Bukele’s past social-media announcements of the purchases.