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What will be El Salvador's profit from Bitcoin holdings by the end of 2024?
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Official government statements or financial reports from El Salvador
Story
El Salvador Marks 3 Years of Bitcoin Adoption with $31M Profit, Holding 5,876 BTC Worth $319M
Sep 7, 2024, 12:49 PM
El Salvador is celebrating the third anniversary of adopting Bitcoin as legal tender, a move that made headlines on September 7, 2021. Over the past three years, the country has accumulated over 5,876 BTC, worth approximately $319 million as of September 7, 2024. This steady accumulation strategy has resulted in a profit of $31 million. As of September 1, 2024, El Salvador's balance was over 5,859 BTC. El Salvador continues to buy 1 Bitcoin every day, showcasing a disciplined dollar-cost averaging (DCA) approach. The average purchase price of Bitcoin for the country has been $43,877, while the current price stands at $54,400. The adoption of Bitcoin as legal tender has been a significant step towards financial innovation and decentralization for the nation.
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