El Salvador May Become the Richest Central American Country – Part 1

This is an ongoing story with part 2 tomorrow.  El Salvador, one of the smallest and most densely populated countries in Central America, may eventually become one of the wealthiest countries in the world due to its Bitcoin holdings.  The country became the world’s first nation to accept Bitcoin as legal tender in September 2021. Then, on November 16, 2022, El Salvador’s President Nayib Bukele announced that the government would start purchasing 1 BTC per day. Although President Bukele’s decision was met with criticism, it has been reported that the Bitcoin held by the government of El Salvador, which consists of over 2,000 BTC, is now valued at more than $150 million.  While impressive, President Bukele has also stated that he has no plans to sell the country’s vast Bitcoin holdings.  As the Bitcoin halving event approaches, El Salvador could see even more gains if the price of BTC continues to increase. Given this, industry experts are predicting that El Salvador may eventually become one of the wealthiest countries, not only of Central America, but of the world.