PANews reported on March 4 that despite seeing more than 50% of the profits, President Bukele of El Salvador stated that he does not plan to sell the large amount of Bitcoin held by the country, according to the British "Independent" report. The Central American country became the first in the world to adopt Bitcoin as its official currency in 2021, while also investing state funds in the asset. El Salvador holds approximately 2,380 Bitcoins, purchased at an average price of $44,300, meaning a $105 million investment is now worth more than $155 million.
Bukele said: "When the price of Bitcoin was very low, they wrote thousands of articles about our so-called losses. Now the market price of Bitcoin has increased significantly, and if we sell Bitcoin, we will gain more than 40% profit. Of course we will not sell. Those so-called analysts and experts are now completely silent. Remember this the next time they spread lies about El Salvador."
It is reported that according to El Salvador’s Bitcoin law, every Salvadorean is eligible to receive free Bitcoins worth $30 to incentivize the launch of Bitcoin.
