El Salvador stored Bitcoin since 2021, the same year the country made the orange coin legal tender. With The recent rise in the value of BitcoinSalvadoran President Nayib Bukele boasted on Twitter, as the country hit $100 million in unrealized profits.

“I told you so,” Bukele said. Twitter.

This comes after the president faced backlash for integrating Bitcoin so directly into El Salvador’s economy. In 2022, the International Monetary Fund (IMF) warned Bukele that Bitcoin could destabilize the national economy. Later that year, Bloomberg claimed the country’s Bitcoin experiment had failed, with the president pushing back saying the article was “full of lies.“

Today, two years later, according to SpotOnChainthe country’s Bitcoin holdings are currently valued at $516.43 million, including $100.65 million in unrealized profits, or just under a 20% profit margin.

Note that unrealized profit is simply the difference between the price at which an asset was purchased and its current value; this figure fluctuates with price movements. Additionally, it is rare that so much capital can be sold at once. If they tried, El Salvador would experience a “skid,” resulting in a profit of less than $100 million.

Regardless, Bukele said that the nation would not sell in February, when it claimed to make a 40% profit.

El Salvador started buying Bitcoin in September 2021while the price was around $51,000, according to the Monitoring Nayib Bukele’s portfolio. The country then purchased the leading cryptocurrency ten times over the following year before committing to buying one BTC every day, following the FTX collapse.

At the start of this commitment, Bitcoin was worth around $16,600. It has since reached a new all-time high of $89,000, an increase of 436%.

According to SpotOnChain, Bitcoin stored in El Salvador actually suffered a loss of $14 million just over a week ago, on November 4. But while the price of Bitcoin skyrocketed after The re-election of Donald Trump as President of the United Statesjust like the fortunes of El Salvador.

Trump was considered the pro-crypto candidateversus a more crypto-cautious Democrat Kamala Harris. This is why Bitcoin saw significant gains Since the Republican was re-elected, speculators hope for a brighter future for crypto in the United States

An example is the potential strategic reserve of Bitcoin that the Trump administration could help build. Similar to El Salvador’s Bitcoin stock, the current plan outlined by Senator Cynthia Lummisa Republican from Wyoming, would see the United States purchase 5 percent of the supply over a five-year period and hold it in reserve for 20 years.

While the United States may be turning the corner in crypto, El Salvador has been experimenting with it extensively for years. In addition to making Bitcoin legal tender and purchasing $500 million worth of it, the country also launched a Bitcoin mining operation that uses the energy of volcanoesoffering Bitcoin »volcanic bonds.”

It seems that Salvadorans have enjoyed the Bitcoin experience so far. Bukele won his re-election in February this year. Nine months later, the country is $100 million richer.