ETF effect: El Salvador earns $12M because of Bitcoin

ETF effect: El Salvador earns $12M because of Bitcoin

By Vibrantstories | Mystories | 9 Jan 2024


Introduction:

 

The country had more than 2500 satoshis of Bitcoin in the past, and with this accumulation of units, they were able to achieve a substantial profit today

The anxiety over the Bitcoin-backed ETF proposed in the USA by BlackRock, which may be announced this week, has led El Salvador to have a more positive chart in its Bitcoin investment portfolio.

In the last year, Bitcoin surged by 170%, driven by external factors in the USA, reaching $47,000 on this Monday.

El Salvador remained in the red for a long time due to adopting Bitcoin as the official currency of the country, and this cryptocurrency experiencing a drop. However, profits began to materialize some time later, even with the sharp declines that Bitcoin can undergo.

Nayib Bukele advocates holding onto this currency instead of selling it.

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