The country's bonds have also surged to over 80 cents on the dollar.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/BKRSPF7TDZFO7ECTUEHDSQPSUY.jpg "El Salvador's Bukele Says Value of Country's Bitcoin Holdings Up Over 40% (2)")
El Salvador's bitcoin holdings are worth more than $147 million dollars, a profit of more than 40%
The country first started buying bitcoin in September 2021
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If El Salvador liquidated bitcoin holdings today, it would book a profit of nearly $41.6 million, or more than 40%, according to a post on X by the country's president.
"When Bitcoin's market price was low, they wrote literally thousands of articles about our supposed losses," Bukele wrote on the social media platform. "Now that #Bitcoin’s market price is way up, if we were to sell, we would make a profit of over 40%."
Bukele also noted that the country's main source of additional bitcoin was its citizenship program which offers expedited citizenship to those who make a BTC "donation" to the government (amount not defined). The country, he continued, has no intention of selling its bitcoin.
El Salvador's holdings were accumulated at an average price of $44,292. In total, the country has 2,381 bitcoins in its treasury.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/6KBOECLTQFEQDDZM4IYTHGIS7M.png "El Salvador's Bukele Says Value of Country's Bitcoin Holdings Up Over 40% (3)")
The country has also seen its bonds surge in the last year, with a debt due in 2052 trading above 80 cents on the dollar, according to FactSet data.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/JDTEGHKR2NHI3MVX2R2ZB6OYFY.png "El Salvador's Bukele Says Value of Country's Bitcoin Holdings Up Over 40% (4)")
Bukele won re-election in early February with more than 85% of the vote.
Bitcoin is currently trading above $61,000, according to CoinDesk Indices data.
Edited by Stephen Alpher.
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:format(jpg)/s3.amazonaws.com/arc-authors/coindesk/ff7c302f-d3ab-4905-92e1-2f7f5106d13c.png "El Salvador's Bukele Says Value of Country's Bitcoin Holdings Up Over 40% (5)")
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