Bitcoin 
It’s been just over a year since El Salvador made history by making bitcoin legal tender and filling its coffers with the cryptocurrency. Since the closely watched and hotly debated move, Bitcoin has lost over 50% of its value, currently trading around $19,000.
El Salvador doesn’t make its bitcoin holdings public, but the Nayib Bukele Portfolio Tracker, which tracks Twitter purchase disclosures from the country’s president, estimated El Salvador has purchased 2,381 bitcoins. Based on average purchase prices, El Salvador’s portfolio would be down around 58%, excluding any potential sales or undisclosed purchases.
The tracker projects El Salvador spent $107 million on bitcoin and lost more than $61 million.
FULL VIDEO TRANSCRIPT BELOW:
It’s been just over a year since El Salvador made bitcoin legal tender and began filling its coffers with the crypto. Since the closely watched and hotly debated move, Bitcoin has lost over 50% of its value, currently trading around $19,000. Talk about buyer’s remorse…
So how is El Salvador’s big bet playing out? El Salvador doesn’t make its bitcoin holdings public, but the Nayib Bukele Portfolio Tracker, which tracks Twitter purchase disclosures from the country’s president, estimates El Salvador has purchased almost 2,400 bitcoins. Based on average purchase prices, El Salvador’s portfolio would be down around 58%, excluding any potential sales or undisclosed purchases.
The tracker projects El Salvador spent $107 million on bitcoin and lost more than $61 million. Despite the projected losses, Bukele and other leaders celebrated the anniversary of El Salvador’s adoption in a series of #BitcoinDay Tweets. So do you think Bukele is buying the dip?
It’s your boy Ross Mac and that was the Crypto Minute on TheStreet.
