The government of El Salvador maintains its investment in Bitcoin, and President Nayib Bukele criticizes the press aligned against the strategy of the Central American country.
“We have no intention of selling; that has never been our objective” declared the President of El Salvador, Nayib Bukele, in a tweet on December 4th. The leader of the Central American country also wrote:
Opponents and the authors of articles (opposed to El Salvador’s investment strategy) should stand by their statements. The responsible thing to do would be to issue retractions, apologize, or at the very least, acknowledge that El Salvador is now making a profit, just as they repeatedly reported that we were experiencing losses.
Bukele has stated that if El Salvador were to sell its bitcoin today, not only would it recover its losses, but it would also make a profit of over 3.6 million dollars.
However, according to data from the website nayibtracker.com, which monitors the performance of the Salvadoran investment, the sovereign fund would still be at a loss of 2.2 million dollars.
In light of the recent growth in the price of Bitcoin, Bukele has called for greater accuracy in media coverage of El Salvador’s investment, requesting a fair representation of both gains and losses associated with it. According to the president, journalists should report news impartially, presenting a comprehensive view of the reality of his Bitcoin investment.
The Bitcoin strategy in El Salvador
El Salvador, the first country to make Bitcoin legal tender, has faced numerous criticisms in 2022 and 2023 for its investment in Bitcoin during a period of volatility and price decline. Despite the criticisms, Bukele insists that the purchase of Bitcoin is part of a long-term investment strategy, and the country has no intention of selling its bitcoin.
