El Salvador President Nayib Bukele Made a Statement After the Bitcoin Rally! - Coin Newsletter

Nayib Bukele, the President of El Salvador, which accepts Bitcoin (BTC) as legal tender, made a statement after the recent rises.

On Feb. 28, El Salvador's President Nayib Bukele tweeted about the country's Bitcoin holdings. In his statement, Bukele reproached journalists who "ranted" when the price of Bitcoin was at low levels, emphasizing that the people who carried out such smear campaigns fell silent when the price rose:

Stating that El Salvador, which buys its Bitcoins at an average cost of $44,292, is already 40% profit, the head of state stated that there are no plans to sell Bitcoin. The country has 2,381 Bitcoin in its treasury. El Salvador's profit from Bitcoin investments is around $42 million. In line with the rise in Bitcoin, the country's bonds also rose above 80 cents per dollar:

Back in the days when Bitcoin's market price was low, they wrote literally thousands of articles about our so-called losses. Now the value of Bitcoin has risen, and if we sell it, we will make a profit of over 40% (only from market purchases), and our main source of Bitcoin is now our citizenship program. Of course, we won't sell it; in the end, 1 BTC = 1 BTC (this was and still is true when the market price was low); But it makes sense that the authors of these hit articles, "analysts", "experts", "journalists" are now completely silent.

On the other hand, apart from the purchases made by the Central Bank of El Salvador, the potential profits are thought to be higher because there is an influx of Bitcoin into the treasury through many different incentives.

Earlier this month, El Salvador launched a program that grants citizenship in exchange for Bitcoin. The country is expected to develop its incentives for Bitcoin in the future.