El Salvador has continued to show no sign of ever going back on its bitcoin adoption decision as it continues to accumulate more of the digital asset.
According to a recent tweet by El Salvador’s President Nayib Bukele, the country has now added 100 Bitcoin (BTC), approximately $5.4 million to its portfolio.
The country took advantage of the 7.7% fall in BTC price on Black Friday with the expectation that the leading cryptocurrency will surge in the future.
$150M Bitcoin Trust Fund Generates Over $4M
Recall that in September, El Salvador became the world’s first country to adopt BTC as a legal tender, a decision that it has been reaping ever since.
Meanwhile, prior to El Salvador’s decision to adopt BTC as a legal tender, the country’s Congress approved the creation of a $150 million BTC Trust fund to facilitate conversions from Bitcoin to US dollars.
The fund with a total balance of $150 million later generated more than $4 million in profit since the Central American nation purchased BTC when the price fell.
Just last month, President Bukele announced on Twitter that part of the profit will be used to build a veterinary hospital in its local capital of San Salvador.
In another development, earlier this month the Central American nation also revealed plans to build the first 20 Bitcoin schools using part of its profit from its BTC investment.
El Salvador continues to invest heavily in crypto in recent times, just in early September, the Central American nation added more of the leading cryptocurrency to its portfolio after acquiring 150 BTC when its price went down.
In October, the county bought the dip yet again by adding 420 BTC to its portfolio.
More Bitcoin-powered Projects in El Salvador
With El Salvador going full into the crypto space, Bukele announced this week that the country will be constructing the world’s first “Bitcoin city.”
He noted that the Bitcoin City will be powered by a nearby volcano and located in the eastern area of La Union.
According to him, the Bitcoin City project will be financed by $1 billion BTC bonds.