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The President of El Salvador, Nayib Bukele, celebrated Bitcoin’s historic milestone of surpassing $100,000, showing the impressive results of the Bitcoin investment policy adopted by his administration. On social media, Bukele shared a screenshot of the state’s Bitcoin portfolio, highlighting that the nation had invested $270 million and now records unrealized gains of nearly $334 million.
El Salvador’s Bitcoin investment strategy
Since 2021, El Salvador adopted dollar cost averaging (DCA) as a strategy for acquiring Bitcoin, a decision that initially generated skepticism both nationally and internationally. Organizations such as the International Monetary Fund (IMF) harshly criticized this measure, suggesting that it could destabilize the country’s finances. However, Bukele stood firm, even when this complicated negotiations for international financing.
Despite the opposition, the Salvadoran government continued to promote its “one BTC a day” purchase program, a policy that, according to Bukele, will remain in force as long as Bitcoin remains accessible with fiat currencies.
Criticisms and challenges overcome
In its first years, this policy faced strong internal rejection, with surveys reflecting that many Salvadorans were not convinced of the adoption of Bitcoin as legal tender. However, the recent rise in the price of Bitcoin has strengthened the position of Bukele, who uses these results as proof of the solidity of his vision.
Additionally, the Salvadoran government has begun working more closely with the IMF to seek a balance between Cryptocurrency policies and international financial requirements, which could facilitate new access to financing for the country.
What’s next for El Salvador and Bitcoin?
With Bitcoin breaking all-time records and a more optimistic outlook for cryptocurrencies, fueled by President-elect Donald Trump’s pro-crypto administration in the United States, analysts predict that Bitcoin could reach new heights in the coming years.
El Salvador’s success in this strategy not only positions the country as a global benchmark in state adoption of Bitcoin, but also redefines how cryptocurrencies can be integrated into national economic policies.
El Salvador, with its visionary commitment to Bitcoin, celebrates today not only economic gains, but also a paradigm shift in the financial world.
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