Since the president of El Salvador announced that his country would accept bitcoin as a legal tender, El Salvador started to DCA bitcoin. Then they bought near its peak value and suffered a long time in red. Finally, the profit came back to the bitcoin country now.
In the chart, the blue line illustrates BTC price from Sep 2021 to Dec 2023, the cryptocurrency experienced a bear market from Nov 2021 to Jul 2022, followed by a 7-month kangaroo sideway before embarking on a new bull run in Jan 2013.
The green circles are El Salvador buying orders, while the higher green dotted line indicates the total dollar cost average. After nearly two years, the first time the blue line crossed above the green line, marking a net profit of 3.6 million dollars for the country.
Currently, El Salvador's Bitcoin portfolio is worth $130 million, and the country will continue to invest in Bitcoin, as president
Nayib Bukele published on his Twitter account.
036 - jaken - 05/12/2023
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