BTC Price Index and Live Chart – CoinDesk”>(BTC) investment after being in the red for two years, according to data from Nayibtracker.

In September 2021 the country began buying bitcoin. They paid between $47.250 and $52,670 over a two-week period for 700 BTC. Last month, President Nayib declared that the investment was “back in the green”.

The latest purchase took place in November 2022 when bitcoins were valued at $27 780. This brings the average price of the stash up to $42,440. El Salvador has 2,798 bitcoins ($131.3m) in total.

El Salvador investment chart (Nayibtracker)

Bitcoin’s price has risen by 75% in October thanks to the imminent approval of an ETF for spot bitcoin in the U.S. The Securities and Exchange Commission is expected to announce a decision by the end of this week.

El Salvador was the first country to adopt bitcoin in 2021. After the nomination of President Javier Milei, there is speculation that Argentina could be the next country to adopt bitcoin as it battles hyperinflation.

Sheldon Reback is the editor.