El Salvador’s President Nayib Bukele said on X (formerly Twitter) on the 4th that Bitcoin (BTC) rose to the level of $42,000 (approximately 6.09 million yen, equivalent to 145 yen to the dollar) over the weekend. In response, he announced that his home country’s Bitcoin investments are currently generating more than $3 million in valuation gains.

President Bukele said: “We have no intention of selling. That was never our objective.” “We are fully aware that prices will continue to fluctuate in the future, but this does not affect our long-term strategy.” Stated.

CoinDesk calculated three weeks ago, based on multiple public statements made by President Bukele, that El Salvador held approximately 2,744 BTC at an average acquisition price of just under $42,000 at the time, with a writedown of approximately $16 million. was.

｜Translation and editing: Rinan Hayashi
｜Image: Shutterstock
｜Original text: El Salvador’s Bitcoin Investment ‘In the Black,’ Says President Bukele