El Salvador's strategic investment in Bitcoin is showing significant financial gains, with the country's Bitcoin holdings now valued at over $206 million, marking a 69% gain on initial capital. This surge is attributed to Bitcoin's 250% rise over the past year. The nation has profited $83 million from its Bitcoin investment strategy, including revenue from its passport program, local businesses, mining, and government services. Billionaire Tim Draper predicts that if Bitcoin reaches $100K, El Salvador could pay off its IMF debt and become one of the wealthiest and most attractive countries globally. Draper's comments were made during a recent episode of the "Web3 Deep Dive" podcast with Rachel Wolfson, and echoed in statements to various crypto news outlets, including a mention by Joe Nakamoto. Initially, El Salvador was up $74 million (+60%) on their Bitcoin holdings.
๐๏ธ El Salvador bags major #bitcoin gains ๐๏ธ Hong Kong's fresh stablecoin push @jennsanasie has today's top crypto headlines on "CoinDesk Daily" ๐https://t.co/Sq6nTgIomm
Tim #Draper Expects #Bitcoin to Transform El Salvador Into a Rich Country https://t.co/rfwHyiS7JI
#Bitcoinโs 250% rise over the past year has catapulted El Salvador's $BTC treasury to over $206 million as of Tuesday. That's a 69% gain on initial capital so far. https://t.co/iTM5vbgu0x https://t.co/sWkJ59lLUd https://t.co/j7NOuwF1cn
NEW: โ๐ธ๐ป El Salvador will be able to pay off the IMF if #Bitcoin hits ๐ต $100K, and never have to talk to them again. Theyโll probably be the most attractive country in the world to go live, just because they embraced #Bitcoin,โ says billionaire Tim Draper. https://t.co/1PX2PcSbRj
JUST IN: ๐ธ๐ป El Salvador President says theyโre in profit on #Bitcoin revenue from their passport program, local businesses, mining and from government services. https://t.co/AXooQc7id7
El Salvador is now in a $83m profit on their #Bitcoin investment strategy! ๐ https://t.co/zj6RGn8hjW
El Salvador ๐ธ๐ป could become the richest country in the world says @TimDraper due to #Bitcoin what do yโall think? ๐ค Watch the full interview on Web3 Deep Dive podcast โก๏ธ https://t.co/4pD005Aepv Read more about this on @cryptonews https://t.co/Wbp1mEHlbb https://t.co/sNlbqztolU
El Salvador is #Bitcoin Country ๐ธ๐ป๐งข๐ฅณ๐ https://t.co/qGygf9j2R1
JUST IN: Tim Draper believes that El Salvador ๐ธ๐ป could eventually become one of the wealthiest countries in the world thanks to its investment in #Bitcoin. Draper made his statements on a recent episode of the โWeb3 Deep Diveโ podcast with Rachel Wolfson. https://t.co/G5IPvHWVwR
NEW: ๐ธ๐ป El Salvador is up $74 million (+60%) on their #Bitcoin holdings ๐ https://t.co/1C33vqSDTn
El Salvador is on its way to becoming one of the wealthiest countries in the world due to #Bitcoin holdings https://t.co/Wbp1mEHlbb via @cryptonews thanks @JoeNakamoto and others for comments!