Category: Bukele Bitcoin

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El Salvador Triumphs in Bitcoin Bet — President Nayib Bukele Announces $3.6 Million Profit

December 4, 2023

El Salvador’s head of state, Nayib Bukele, recently announced that the nation’s bitcoin investment has turned profitable, rebounding from a prolonged period of losses experienced during the majority of last year’s crypto winter. Bukele revealed that the value of the country’s cryptocurrency holdings has risen by $3.6 million, based on current bitcoin exchange rates. El…
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Investigation Reveals El Salvador Misused One-Third of $600 Million COVID Relief for Bitcoin

November 1, 2023

Image by RawBeautyPixels, Adobe Stock. An investigation has exposed how El Salvador’s government misallocated a large portion of a COVID-19 relief loan to fund its controversial Bitcoin project. The COVID-19 pandemic plunged El Salvador into economic turmoil in 2020, causing GDP to plummet nearly 8% and leaving many struggling to survive the strict lockdown measures.…
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