El Salvador’s Bitcoin Holdings Generate Over $357M in Unrealized Gains as BTC Price Jumps

Highlights:

• El Salvador’s Bitcoin holdings show $357 million unrealized profit as Bitcoin nears an all-time high.
• President Bukele remains committed to Bitcoin despite global criticism and some supporters leaving.
• Panama City Mayor met El Salvador’s Bitcoin experts and hinted at creating a local Bitcoin reserve soon.

On May 19, President Nayib Bukele announced on social media that El Salvador’s Bitcoin holdings have generated an unrealized profit of over $357 million. The profit comes as Bitcoin’s price gets close to its highest level ever, which is nearly $108,786. As per the shared screenshot, El Salvador’s Bitcoin stash is valued at over $644.4 million, up from the $287.1 million originally invested. This means an unrealized profit of 124.4%, including $69.8 million gained just this year.

🤷🏻‍♂️ pic.twitter.com/05izbAR202

— Nayib Bukele (@nayibbukele) May 19, 2025

Four years ago, El Salvador became the first country to make Bitcoin an official currency, following President Bukele’s plan to improve financial access. Since then, the country has been slowly buying more Bitcoin. In December, El Salvador signed a $3.5 billion deal with the International Monetary Fund (IMF), including a $1.4 billion loan. As part of the deal, El Salvador passed a law in January saying private businesses can choose whether or not to accept Bitcoin, but President Bukele still supported buying more Bitcoin.

Bukele said on X that even though many people around the world have criticized El Salvador for using Bitcoin, and some early supporters have walked away, the country is still sticking with its BTC plan.

The government’s Bitcoin actions are gaining interest from global crypto groups. MicroStrategy co-founder Michael Saylor met President Bukele in February to talk about BTC adoption plans. They discussed how El Salvador can use Bitcoin more inside and outside the country. Saylor’s company owns 568,840 BTC. They believe BTC is a good long-term investment.

El Salvador’s BTC Gains Rise Amid Recent Price Surge

El Salvador’s big Bitcoin profit comes at the same time as Bitcoin’s latest price jump. At the time of writing, Bitcoin was priced at $102,541. Even though it dropped 1.04% in the last day and 1.38% over the past week, it’s still just 6% below its highest price ever. The recent rise in Bitcoin’s price is due to investors feeling more confident about its future and hoping that the U.S.-China trade tensions might soon be resolved.

Panama City Mayor Considers Bitcoin Reserve Plan

Panama City Mayor Mayer Mizrachi suggested the idea of a city-level Bitcoin reserve after meeting Bitcoin advocates from El Salvador. On May 16, he shared a post saying “Bitcoin Reserve” on X after his discussion with Max Keiser and Stacy Herbert. Mizrachi didn’t reveal details but his post came shortly before the Bitcoin 2025 conference in Las Vegas, where he will speak.

Panama City plans a BTC reserve after approving crypto for public payments like taxes and fees. Bitcoin, Ether, Tether, and USDC will be accepted once payment systems are set. Mizrachi would need approval from Panama’s National Assembly to form a national Bitcoin reserve, though no action has been reported. Similar bills have already passed in New Hampshire and Arizona.

Bitcoin Reserve 🚀

— Mayer Mizrachi (@Mayer) May 16, 2025