El Salvador has more Bitcoin than they think

El Salvador President Nayib Bukele revealed yesterday that the amount of Bitcoin (BTC) in his country is much higher than anticipated. With this, he suggests that the performance achieved by his government through a strategy based on digital currency is yielding higher profits than calculated based on public data.

According to Bukele, A portion Bitcoin has entered El Salvador through its Freedom Visa program, This refers to a plan launched in December last year and with which the country would have captured many Bitcoins, although the exact figure is unknown.

As far as is known, so far, El Salvador has found 7 foreign investors willing to support at least one million dollars to contribute to the economic and social development of the Central American nation. The investment allows participants to obtain a Freedom Visa.

On the other hand, El Salvador has accumulated Bitcoins through the provision of government services as well as digital mining activity in this cryptocurrency.

These actions are part of a strategy the Bukele government aims to promote Bitcoin adoption Boost your economy supported by a strategy based on digital currency.

As CriptoNoticias reported in January last year, Nayib Bukele’s government created the Bitcoin Fund Management Agency (AAB). The institution not only manages, secures and invests the resources of public offerings of digital assets of the state and the profits generated from them, but is also in charge of it. Analyze cryptocurrency investment opportunities for the government.

Additionally, the National Commission for Digital Assets (CNDA) registers approximately 60 companies resident in the country. “And many of them have already paid a million dollars in BTC to get a Salvadoran passport because they are attracted to the tax benefits offered by El Salvador and President Bukele,” CNDA President Juan Carlos Reyes said during an interview. are attracted by the promises made by the CryptoNoticias.

Digital mining has also been done Another source of Bitcoin to increase El Salvador’s holdings, As Bukele said in his tweet, without specifying the amount of BTC currently in the Salvadoran portfolio.

Nayib Bukele’s government-owned Bitcoin investment tracking site, nayibtracker.com, has 2,860 BTC held by the Central American country. At the end of this report, this amount of money has yielded unrealized profits of approximately 70%, approximately $84 million.

Although the Bitcoin held by El Salvador has increased, until there is another reference site available that allows us to know the exact amount of BTC held by the Central American country, nayibtracker.com There is no other resource. Which refers to Bitcoin holdings held by the first country to adopt the digital currency as an official asset.

Bukele has not disclosed any Bitcoin addresses so that anyone can verify Bitcoin purchases made by the Salvadoran government. On the contrary, everything is based on trusting the words of the ruler, who usually uses his account in X to report new acquisitions of the digital currency.