How much is El Salvador's Bitcoin worth? (2024)

How much is El Salvador's Bitcoin worth?

According to Bukele's social media account on Thursday, El Salvador's bitcoin portfolio is at close to $407 million. The true size of the holdings remains unclear, but a recent rally in bitcoin values has reignited interest in the world's largest, if volatile, cryptocurrency.

How much bitcoin is El Salvador worth?

According to Bukele's social media account on Thursday, El Salvador's bitcoin portfolio is at close to $407 million. The true size of the holdings remains unclear, but a recent rally in bitcoin values has reignited interest in the world's largest, if volatile, cryptocurrency.

What is the cost basis of El Salvador bitcoin?

El Salvador BTC returns dwarf cost basis

Each BTC was purchased at an average price of $44,300. In recent commentary on X, Bukele, who was reelected in February, criticized mainstream media approaches to the government's economic policy.

Who owns the most bitcoin?

So, who are the top holders of BTC? According to the Bitcoin research and analysis firm River Intelligence, Satoshi Nakamoto, the anonymous creator behind Bitcoin, is listed as the top BTC holder as of 2024. The company notes that Satoshi Nakamoto holds about 1.1m BTC tokens in about 22,000 different addresses.

How much has the bitcoin price dropped in El Salvador?

Time has not been an ally of the president of El Salvador, Nayib Bukele, who made bitcoin legal tender in September 2021 and invested part of the public finances in the asset. Since Bukele bought the first digital tokens on September 6 of last year, they have lost 67% of their value.

Is El Salvador losing millions in bitcoin?

El Salvador has lost an estimated $40 million of its total investment in bitcoin since 2021 due to a decline in the value of the cryptocurrency.

Does El Salvador still have bitcoin?

San Salvador, Jan 31 (Reuters) - Bitcoin will remain legal tender in El Salvador during the second term of President Nayib Bukele, his vice president said on Wednesday.

How much bitcoin does Elon Musk own?

The co-founder of Tesla Inc. revealed on Twitter that he owns only a tiny fraction of one bitcoin token. "I literally own zero cryptocurrency, apart from . 25 BTC that a friend sent me many years ago," Musk confessed.

Who is the owner of El Salvador?

What is the return of El Salvador bitcoin?

One of the few countries to adopt bitcoin as legal tender has apparently seen an $84 million profit from bitcoin, boosted by the cryptocurrency's recent rally.

Who owns 90% of Bitcoin?

As of March 2023, the top 1% of Bitcoin addresses hold over 90% of the total Bitcoin supply, according to Bitinfocharts.

Who is the richest man because of Bitcoin?

How many millionaires own Bitcoin?

78 Bitcoin users are centimillionaires, which means that those individuals each hold at least $100 million worth of Bitcoin. But when we get into Bitcoin millionaires, the numbers jump. The report says that there are 40,500 Bitcoin users worldwide, each of whom holds at least $1 million in Bitcoin.

Is El Salvador in debt?

The national debt in El Salvador was forecast to continuously increase between 2023 and 2028 by in total 9.6 billion U.S. dollars (+37.24 percent). After the twentysecond consecutive increasing year, the national debt is estimated to reach 35.42 billion U.S. dollars and therefore a new peak in 2028.

Why is El Salvador switching to bitcoin?

In an effort to boost financial inclusion, El Salvador made Bitcoin an official currency and offered incentives for adopting it. A new study co-authored by Yale SOM's David Argente and Diana Van Patten found that a lack of trust caused use of the cryptocurrency to fall off quickly.

How safe is El Salvador?

El Salvador has until recently had one of the highest crime rates in Latin America. The risks of violent and petty crime remain, despite recent progress.

Do El Salvador citizens like bitcoin?

EMPTY WALLETS

They worry about the cryptocurrency's volatility in a cash-based economy where many live hand-to-mouth. Some 88% of Salvadorans did not use it in 2023, according to a survey by the University of Central America's public opinion institute. Just 1% of remittances were sent in bitcoin.

Does El Salvador use the US dollar?

El Salvador: El Salvador switched to the US dollar in 2001 for economic stability.

Is El Salvador economy good?

In 2021, El Salvador's economy grew by 11.2 percent, while growth moderated to 2.6 percent in 2022 and is expected to average 2.8 percent in 2023. In the medium-term, GDP is forecast to converge to 2.1 percent, above historical averages, on the back of private consumption, public investment, and tourism.

Who is the most famous person from El Salvador?

One of the most prominent figures is Roberto D'Aubuisson, who was a politician and military officer. He is credited with founding the Nationalist Republican Alliance party and playing a significant role in the country's civil war. Another notable personality is Roque Dalton, a poet, journalist, and political activist.

How much Bitcoin does Warren Buffett own?

Warren Buffett Doesn't Own Bitcoin, but His Company Is Betting $1 Billion on This Crypto Stock | The Motley Fool.

How to get free Bitcoin?

Who are the biggest Bitcoin holders?

According to bitcoin-focused asset manager River Financial, Satoshi Nakamoto is estimated to be the biggest bitcoin holder in possession of more than one million BTC stored in roughly 22,000 addresses.

Who are the 14 wealthy families of El Salvador?

The Fourteen Families ("las catorce familias")—with names including de Sola, Llach, Hill, Meza-Ayau, Duenas, Dalton, Regalado, Quiñonez, Flores, and Salaverria—is a reference to this oligarchy.

Is El Salvador rich or poor country?