{"id":379004,"date":"2023-12-04T16:00:34","date_gmt":"2023-12-04T16:00:34","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=379004"},"modified":"2023-12-04T16:09:08","modified_gmt":"2023-12-04T16:09:08","slug":"nayib-bukele-claims-profit-on-el-salvadors-bitcoin-despite-data-showing-losses","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/nayib-bukele-claims-profit-on-el-salvadors-bitcoin-despite-data-showing-losses\/","title":{"rendered":"Nayib Bukele claims profit on El Salvador&#8217;s Bitcoin despite data showing losses"},"content":{"rendered":"<p>El Salvador president <a href=\"https:\/\/cryptoslate.com\/people\/nayib-bukele\/\">Nayib Bukele<\/a>, who recently began a <a href=\"https:\/\/abcnews.go.com\/International\/wireStory\/el-salvadors-president-nayib-bukele-requests-leave-campaign-105296179\">six-month leave from office<\/a> in order to focus on his reelection campaign, has stated that El Salvador's Bitcoin (<a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">BTC<\/a>) investment has turned profitable due to Bitcoin's recent surge past $41,000.<\/p>\n<p><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\">Bukele <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1731653743668572498?s=46&t=aw6ZR-6aD050XLPVXY8AQA\">wrote<\/a>. <\/span><\/p>\n<blockquote><p>&#8220;<span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\">El Salvador's <\/span><span class=\"r-18u37iz\">Bitcoin<\/span><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\"> investments are in the black. With the current <span class=\"r-18u37iz\">Bitcoin<\/span>\u00a0market price, if we were to sell our <span class=\"r-18u37iz\">Bitcoin<\/span>, we would not only recover 100% of our investment but also make a profit of $3,620,277.13 (as of this moment).&#8221;<\/span><\/p><\/blockquote>\n<p>However, <a href=\"https:\/\/nayibtracker.com\/\">data<\/a> from NayibTracker, a data aggregator monitoring El Salvador's Bitcoin holdings, contradicts Bukele's statement, showing the Central American country\u2019s BTC holdings at an unrealized loss of $2.15 million.<\/p>\n<figure id=\"attachment_379024\" aria-describedby=\"caption-attachment-379024\" style=\"width: 1279px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-379024\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-04-161150.jpg\" alt=\"El Salvador Bitcoin holding\" width=\"1279\" height=\"829\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-04-161150.jpg 1279w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-04-161150-300x194.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-04-161150-1024x664.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-04-161150-768x498.jpg 768w\" sizes=\"(max-width: 1279px) 100vw, 1279px\" \/><figcaption id=\"caption-attachment-379024\" class=\"wp-caption-text\">Data showing El Salvador's Bitcoin Holding (Source: Nayibtracker)<\/figcaption><\/figure>\n<p>Per the site, the country's average BTC purchase price is $42,434, while the top cryptocurrency traded for $41,623 as of press time.<\/p>\n<p>Still, the data marks a significant turnaround for a country whose BTC holdings had <a href=\"https:\/\/cryptoslate.com\/el-salvador-has-almost-20-million-in-unrealized-losses-despite-bitcoins-recent-rally-to-35k\/\">recorded<\/a> nearly $20 million in unrealized losses in October amid the flagship asset's spike to $35,000.<\/p>\n<p>Over the weekend, BTC's price <a href=\"https:\/\/cryptoslate.com\/bitcoin-zips-past-41000-amid-unending-etf-optimism\/\">broke $41,000<\/a> amid continued market optimism surrounding a <a href=\"https:\/\/cryptoslate.com\/sec-met-with-grayscale-and-seven-other-spot-bitcoin-etf-applicants-in-late-november\/\">possible approval<\/a> for a spot exchange-traded fund (ETF) in the U.S.<\/p>\n<h2>El Salvador won't sell<\/h2>\n<p>Bukele stated that El Salvador has no intentions of selling its BTC holdings, reaffirming a long-term strategy regardless of future price fluctuations. He said:<\/p>\n<blockquote><p>&#8220;We have no intention of selling; that has never been our objective. We are fully aware that the price will continue to fluctuate in the future, this doesn\u2019t affect our long-term strategy.&#8221;<\/p><\/blockquote>\n<p>The Central American country has emerged as one of the most pro-BTC jurisdictions in the world since it made the flagship digital asset a legal tender in 2021. Since then, several crypto companies, <a href=\"https:\/\/cryptoslate.com\/binance-becomes-el-salvadors-first-licensed-crypto-exchange-amid-regulatory-struggles-worldwide\/\">including Binance<\/a>, and major industry stakeholders have <a href=\"https:\/\/cryptoslate.com\/bitfinex-documentary-on-the-rise-of-bitcoin-in-el-salvador-to-premiere-in-lugano\/\">touted<\/a> the country's pro-crypto legislation.<\/p>\n<p>However, El Salvador's BTC move has <a href=\"https:\/\/cryptoslate.com\/el-salvadors-bitcoin-experiment-sees-slow-adoption-but-crime-reduction\/\">attracted detractors<\/a> whom Bukele described as &#8220;naysayers,&#8221; who have written &#8220;thousands of articles and hit pieces that ridiculed [the country's] supposed losses.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador president Nayib Bukele, who recently began a six-month leave from office in order to focus on his reelection campaign, has stated that El Salvador&#8217;s Bitcoin (BTC) investment has turned profitable due to Bitcoin&#8217;s recent surge past $41,000. Bukele wrote. &#8220;El Salvador&#8217;s Bitcoin investments are in the black. With the current Bitcoin\u00a0market price, if [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":379017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[76895,76941],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nayib Bukele claims profit on El Salvador&#039;s Bitcoin despite data showing losses<\/title>\n<meta name=\"description\" content=\"Data from Nayibtracker challenges Bukele&#039;s statement that El Salvador&#039;s Bitcoin is in profit as the on-leave president hits the campaign trail.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/nayib-bukele-claims-profit-on-el-salvadors-bitcoin-despite-data-showing-losses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nayib Bukele claims profit on El Salvador&#039;s Bitcoin despite data showing losses\" \/>\n<meta property=\"og:description\" content=\"Data from Nayibtracker challenges Bukele&#039;s statement that El Salvador&#039;s Bitcoin is in profit as the on-leave president hits the campaign trail.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/nayib-bukele-claims-profit-on-el-salvadors-bitcoin-despite-data-showing-losses\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-04T16:00:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-04T16:09:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/12\/nayib-bukele-bitcoin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/nayib-bukele-claims-profit-on-el-salvadors-bitcoin-despite-data-showing-losses\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/nayib-bukele-claims-profit-on-el-salvadors-bitcoin-despite-data-showing-losses\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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