Author: Ezra Reguerra, CoinTelegraph; Compiler: Deng Tong, Golden Finance

After Bitcoin exceeded $100,000 for the first time, El Salvador President Nayib Bukele highlighted the issue on social media The country’s unrealized gains from its investments in Bitcoin.

On December 5, Bitcoin hit $100,000 for the first time, sparking cheers from the cryptocurrency community. The same day, Autism Capital, a cryptocurrency-focused account on X, asked Booker to share El Salvador’s Bitcoin portfolio to “fight the haters.” Bukele responded by posting the country’s BTC holdings on X.

Source: Nayib Bukele

Bukele’s latest update shows that since the country first adopted cryptocurrencies Since then, the country has spent nearly $270 million on Bitcoin. The portfolio shows that Bitcoin has not yet been sold, with unrealized gains now exceeding $333 million.

El Salvador was the first to adopt Bitcoin as legal tender. On September 7, 2021, the country’s Bitcoin Law came into effect, officially making BTC the legal currency for financial transactions in El Salvador. On September 6, the first batch of 200 BTC was also purchased.

El Salvador has been buying Bitcoin ever since. On November 17, 2022, Bukele announced a dollar-cost averaging (DCA) strategy, committing to purchase one Bitcoin per day.

Nayib Tracker, a platform dedicated to tracking Bitcoin investments in the country, reports that El Salvador holds 6,180 BTC. The tracker estimates the average purchase price to be $44,739.88 per Bitcoin, which means the country’s holdings of BTC have increased by 122% based on current market prices.

In addition to BTC profits, El Salvador has reported other benefits since adopting Bitcoin. The country’s decision to adopt Bitcoin has also boosted tourism.

Despite the country’s success, the International Monetary Fund (IMF) has been urging El Salvador to reconsider its Bitcoin.

On January 25, 2022, the International Monetary Fund asked El Salvador to stop recognizing BTC as legal tender, citing financial stability risks despite the potential to increase financial inclusion.

On October 3, the International Monetary Fund once again called on El Salvador to scale back its Bitcoin. Julie Kozack, communications director at the International Monetary Fund, recommends shrinking the country’s Bitcoinlaw and limit public sector exposure to Bitcoin.