El Salvador 1 Year Later: Gauging The Impact of Crypto Winter

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. 

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