El Salvador Bitcoin Reserve Don Post $470M Unrealised Gain
El Salvador Bitcoin Reserve don make $470M unrealized profit afta di government buy over 6,200 BTC for average price of $42,000. As Bitcoin dey go for above $120,000, di value of El Salvador Bitcoin Reserve almost don triple, giving more than 120% returns.
Since dem make BTC legal tender for 2021, President Bukele own HODL plan — wey be to buy when price fall and hold am — don make national treasury strong and e fit pay for road and other project or reduce national debt. Dis success mean sey people dey trust El Salvador Bitcoin Reserve waka, but still, market wahala and regulation risk dey. Bukele plan to make crypto adoption bigger, e dey give live example of government-backed digital currency strategy.
Bullish
Di tori wey El Salvador Bitcoin Reserve get $470M unrealized gain dey show strong government support plus correct buy-the-dip strategy wey dey boost market feeling short term. Traders fit see this profit as bullish signal, dem go expect say BTC accumulation go continue plus demand wey infrastructure fit drive. Long term, El Salvador legal tender policy wey still dey plus crypto adoption wey dey grow reinforce Bitcoin institutional legitimacy, e dey support sustained uptrend. But market wahala plus regulatory uncertainty still fit be problem.