Three years ago, El Salvador made headlines by announcing its adoption of Bitcoin as legal tender. President Nayib Bukele revealed that the country started buying BTC to add to its reserves, with the initial purchase of 400 BTC at $46,811 each. Over time, El Salvador's Bitcoin treasury grew significantly, now totaling 5,867 BTC with an average cost of $43,884. The country has seen a profit of $34.55 million from its BTC purchases, marking a 25.88% gain. Despite this success, President Bukele has no plans to sell the BTC holdings and emphasizes valuing Bitcoin on a one-to-one scale. El Salvador remains the third-largest government holder of Bitcoin globally. The country allows residents to choose between using the US dollar and Bitcoin as legal tender, showing a commitment to its Bitcoin mission through initiatives like the BTC monitoring website. Read more AI-generated news on: https://app.chaingpt.org/news

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