El Salvador's President Nayib Bukele has celebrated the country's Bitcoin holdings, which have reached an unrealized profit of $100 million. Despite the backlash from the International Monetary Fund and criticisms from Bloomberg about El Salvador's Bitcoin experiment, Bukele has maintained confidence in the strategy. The holdings are now valued at approximately $516.43 million, reflecting a nearly 20% profit margin since early acquisitions. El Salvador began purchasing Bitcoin in 2021 and pledged to buy one Bitcoin every day as its price increased from about $16,600 to a record high of $89,000. This resurgence in Bitcoin prices has significantly changed the financial outlook for the country, as Bukele previously reported a loss of $14 million just a week prior to this profit announcement, illustrating the volatility of the cryptocurrency market. The Bitcoin initiative has not only included investing but also the establishment of a mining operation utilizing renewable energy. The outcome of this long-term strategy seems to indicate a growing support for the Bitcoin experiment among the people of El Salvador, as the country shows substantial profits from its investments in the cryptocurrency.

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