As the leading cryptocurrency continues to enjoy an unprecedented surge, El Salvador has seen its Bitcoin investment surpass a $119 million profit. Indeed, the country became one of the earliest and most ardent defenders of the leading crypto in recent years. In 2021, the country officially made the asset legal tender within the country.
That bet appears to be paying off in a big way now. With Donald Trump emerging victorious in the 2024 presidential election, the United States will see the first true pro-crypto president take office. Moreover, that fact has driven the token to an $83,000 all-time high.
JUST IN: 🇸🇻 El Salvador #Bitcoin investment surpasses $119 million profit.
— Watcher.Guru (@WatcherGuru) November 11, 2024
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El Salvador Bitcoin Bet Paying Off as Investment Hits $119 Million in Profit
2024 has been a game changer for the crypto sector. Indeed, Bitcoin has proven to be one of the most important financial stories of the year. In January, it became the first crypto-based ETF in the United States. Since then, it has set a new record price mark three different times.
That has benefitted every person who invested in the potential of the asset. Chief among them is El Salvador, whose Bitcoin investment has now surpassed the $119 million mark. Indeed, the country adopted Bitcoin three years ago and is now enjoying the fruits of what was a significant risk at the time.
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According to a Nayib Bukele portfolio tracker, the investment is now up 86% at its current value above the $82,000 mark. El Salvador certainly isn’t the only one, as MicroStrategy has seen its BTC investment reach an ROI above 100%. Together, the price movement has been undeniably beneficial to those who were early adopters of the asset class’s potential.
Now Bernstein has urged investors to follow suit. In a research note, they called on them to acquire as much crypto as possible. Many expect the asset class, specifically Bitcoin, to continue to rise in price. Some experts predict it to reach a $100,000 mark before Trump is inaugurated next year.
