Satoshi

Satoshi Nakamoto

Bitcoin

Autism

Salvadoran President Nayib Bukele highlighted the country’s unrealized gains from its Bitcoin investments on social media after the cryptocurrency surpassed $100,000 for the first time.
On Dec. 5, Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BTC</a>) <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-hits-100-000-first-time-new-all-time-high" rel="noopener noreferrer nofollow" target="null" text="null" title="null">reached $100,000 for the first time</a>, sparking celebrations within the crypto community. That same day, Autism Capital, a crypto-focused account on X, <a data-ct-non-breakable="null" href="https://x.com/AutismCapital/status/1864505429512028251" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://x.com/AutismCapital/status/1864505429512028251">asked</a> Bukele to share El Salvador’s Bitcoin portfolio to “dunk on the haters.” Bukele responded by posting the country’s BTC holdings on X.
<figure><img alt="El Salvador" src="https://s3.cointelegraph.com/uploads/2024-12/0193a609-14ee-751a-946d-806c5fe82255" title="">
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 Source: <a data-ct-non-breakable="null" href="https://x.com/nayibbukele/status/1864506095131144278" rel="noopener noreferrer nofollow" target="null" text="null" title="https://x.com/nayibbukele/status/1864506095131144278">Nayib Bukele</a>
 </figcaption>
</figure>
Bukele’s latest update shows the country has spent nearly $270 million on Bitcoin since its initial adoption of the cryptocurrency. The portfolio shows no Bitcoin has been sold, and unrealized gains now exceed $333 million.
<h2 id="el-salvador-s-bitcoin-journey">El Salvador’s Bitcoin journey</h2>
El Salvador was the first country to adopt Bitcoin as a legal tender. On Sept. 7, 2021, the country’s Bitcoin Law <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/september-7-is-bitcoin-day-in-el-salvador-as-btc-becomes-legal-tender" rel="noopener noreferrer nofollow" target="null" text="null" title="null">came into effect</a>, officially making BTC a currency legally recognized for financial exchanges within El Salvador. On Sept. 6, the government also <a data-ct-non-breakable="null" href="https://x.com/nayibbukele/status/1434968475928248331" rel="noopener noreferrer nofollow" target="null" text="null" title="null">purchased</a> its first 200 BTC.
Since then, El Salvador has continued to acquire Bitcoin. On Nov. 17, 2022, Bukele announced a dollar-cost averaging (DCA) strategy, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/nayib-bukele-announces-bitcoin-prescription-for-el-salvador-1-btc-a-day" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/nayib-bukele-announces-bitcoin-prescription-for-el-salvador-1-btc-a-day">committing to buy one Bitcoin daily</a>.
Nayib Tracker, a platform dedicated to tracking the country’s Bitcoin investments, reports that El Salvador holds 6,180 BTC. The tracker estimates the average purchase price at $44,739.88 per Bitcoin, meaning the country is up 122% based on current market prices.
Besides BTC profit, El Salvador has reported other benefits since adopting Bitcoin. The country’s decision to <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/el-salvador-s-bitcoin-decision-tracking-adoption-a-year-later" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/el-salvador-s-bitcoin-decision-tracking-adoption-a-year-later">adopt Bitcoin also boosted tourism</a>.&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-etfs-flip-satoshi-nakamoto-total-held-btc" rel="noopener noreferrer nofollow" target="null" text="null" title="null">US Bitcoin ETFs now hold more BTC than Satoshi Nakamoto</a>
<h2 id="imf-calls-on-el-salvador-to-ditch-bitcoin">IMF calls on El Salvador to ditch Bitcoin</h2>
Despite the country’s reported success, the International Monetary Fund (IMF) has consistently urged El Salvador to reconsider its Bitcoin policies.
On Jan. 25, 2022, the IMF asked El Salvador to <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/imf-urges-el-salvador-to-remove-bitcoin-s-status-as-legal-tender" rel="noopener noreferrer nofollow" target="null" text="null" title="null">stop recognizing BTC</a> as legal tender, citing risks to financial stability despite acknowledging the potential for increased financial inclusion.
On Oct. 3, the IMF <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/imf-pressures-el-salvador-overhaul-bitcoin-regulations" rel="noopener noreferrer nofollow" target="null" text="null" title="null">renewed its call to El Salvador</a> to scale back its Bitcoin policies. The IMF’s communications director, Julie Kozack, recommended narrowing the scope of the country’s Bitcoin Law and limiting the public sector’s exposure to Bitcoin.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-price-100k-donald-trump-paul-atkins-sec-gary-gensler-hodlers-digest/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BTC hits $100K, Trump taps Paul Atkins for SEC chair, and more: Hodler’s&nbsp; Digest</a>

El Salvador’s Bitcoin gains top $300M — President

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