El Salvador’s bold foray into Bitcoin (CRYPTO: BTC) has entered a new chapter of profitability.
As of May 19, the country’s BTC portfolio stands at approximately $644.4 million, with an unrealized profit of $357.2 million, reflecting a gain of 124.39% on its initial investment of $287.2 million.
President Nayib Bukele shared an image of the country’s portfolio dashboard on social media on Sunday, noting the position has appreciated by over $69 million year-to-date and underscoring the resilience of El Salvador’s crypto treasury strategy even amid market volatility.
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The public disclosure comes as institutional interest in Bitcoin continues to deepen.
Tokyo-listed investment company Metaplanet Inc (OTCQX:MTPLF) announced this week that it had purchased 1,004 BTC for roughly $104.3 million, bringing its total holdings to 7,800 BTC.
The company disclosed that its average acquisition cost across all purchases is $91,300 per BTC, with the current market value of its Bitcoin now exceeding $806 million.
Metaplanet’s aggressive accumulation mirrors El Salvador’s early adoption stance.
The Japanese firm began accumulating Bitcoin in April 2024, taking inspiration from treasury allocation strategies used by Strategy.
Its latest tranche was acquired at an average price of $103,873 per BTC, with the firm publicly stating its target of reaching 10,000 BTC by the end of 2025.
To support these acquisitions, Metaplanet has completed a series of bond issuances, 15 in total, raising capital directly for its Bitcoin strategy.
Its most recent bond sale raised $15 million, as Bitcoin trades just shy of its all-time high near $103,343.
El Salvador became the first country to adopt Bitcoin as legal tender in 2021, a controversial move that has since turned into a highly profitable one, at least on paper.
The government’s decision to maintain its position without liquidating any of its holdings means the realized profit remains zero, though the country’s financial position has significantly improved on paper.
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El Salvador’s Bitcoin Holdings Show $357 Million In Unrealized Profit As Bitcoin Closes At Record Highs originally appeared on Benzinga.com.
