In November 2022, El Salvador President Nayib Bukele announced a country-level dollar cost averaging (DCA) plan, promising to buy one bitcoin every day.
At the time, the country – based on public statements from Bukele – was already the owner of 2,381 bitcoins purchased at an average price of roughly $44,300. The price then was just $19,000, putting the country at about a $60 million loss on its holdings.
Bukele has kept pretty quiet about El Salvador’s purchases since and the exact amount of bitcoin that the country owns is not clear as there is no public government record.
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Assuming that the country did
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