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El Salvador's Bitcoin Bet Pays Off With $31 Million Profit
Summary: Three years after becoming the world's first country to adopt Bitcoin as legal tender, El Salvador is reaping the rewards of its gamble. The Central American nation has amassed significant unrealized profits worth more than $31 million from BTC. The country's strategy has been to purchase one Bitcoin per day using a dollar-cost averaging approach, a ...
Three years after becoming the world's first country to adopt Bitcoin as legal tender, El Salvador is reaping the rewards of its gamble.
The Central American nation has amassed significant unrealized profits worth more than $31 million from BTC. The country's strategy has been to purchase one Bitcoin per day using a dollar-cost averaging approach, a technique that involves investing a fixed dollar amount at regular intervals, regardless of the price.
El Salvador's decision to embrace Bitcoin was driven by a desire to promote financial inclusion, streamline remittance payments, and foster financial innovation. While the experiment has faced challenges, it has also generated significant interest and debate within the cryptocurrency community.
Tags: Bitcoin,El Salvador
Link: El Salvador's Bitcoin Bet Pays Off With $31 Million Profit [Copy]
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