El Salvador Holds Bitcoin Holdings Worth Over $155 Million, President States No Intention to Sell

According to a report by The Independent, President Bukele of El Salvador has stated that despite profits exceeding 50%, the country has no intention of selling the significant amount of Bitcoin it holds. This Central American country became the world's first to adopt Bitcoin as an official currency in 2021, and it also allocated national funds into the asset. Currently, El Salvador holds approximately 2,380 bitcoins, purchased at an average price of $44,300 each, now valued at over $155 million. It is reported that under El Salvador's Bitcoin law, every Salvadoran is eligible to receive $30 worth of free bitcoin to incentivize the adoption of Bitcoin.