Salvador fix this. Bitcoin’s legendary volatility isn’t the only instability surrounding this iconic cryptocurrency. Indeed, its adoption seems determined to take the same winding paths. It is enough to see how the regulatory authorities are incapable of classifying once and for all this crypto-asset decidedly very different from the others. At the same time, El Salvador offered it a now indisputable currency status in 2021. But the next presidential elections could well change the situation… or not, if we are to believe its very recent ex-president Nayib Bukele.
Nayib Bukele has no intention of selling
Could Bitcoin be experiencing a sort of democratic test in El Salvador ? This is the question currently being asked by observers, while its president Nayid Bukele has just resigned in order to run for his own seat. With, at the center of international questions – and criticism, its massive investments in BTC.
Because El Salvador made Bitcoin its official currency in 2021. And since this period, global regulators are trying to discredit this decision hoping for an emblematic failure. But this does not seem to affect the policy pursued by the government of Nayib Bukele, quite the contrary.
“We have no intention of selling, that has never been our goal. We are fully aware that the price will continue to fluctuate in the future, this does not affect our long-term strategy. »
And the cryptocurrency market seems to benefit Nayib Bukele. Because after two consecutive years of bear market difficult to cope with for this maximalist president of Bitcoin, the wheel finally seems decided to turn. In any case, this is what the ex-president candidate has just said on his X account. Indeed, “ Bitcoin investments from El Salvador are positive! »
El Salvador records $3.6 million profit
Bitcoin shows a return to uptrend confirmed at the end of the year. With a price of BTC which crosses the level of $42,000. And an annual return now leading an increase of +140%.
The opportunity for Nakib Bukele to settle some scores with his detractors. Because critics have not failed to point an accusing finger at his monetary policy Bitcoin new generation. However, it is a profit of more than 3.6 million dollars that the coffers of the Salvadoran state must now cope with.
“After literally thousands of articles and hit pieces ridiculing our supposed losses, all of which were calculated based on the market price of BTC at the time (…), if we were to sell our Bitcoin at its current price , not only would we get 100% of our investment back, but we would also make a profit of $3,620,277.13 USD (at that moment). »
Nakib Bukele
El Salvador’s pro-Bitcoin policy therefore benefits from the recent rise in BTC. A good way to brush aside the criticism, considered by Nayib Bukele as (now) unfounded. Even if it does not erase certain safety rules issued by Vitalik Buterin about this unprecedented step. Because the victory is not in the price, but in the adoption.