El Salvador marks third anniversary of Bitcoin adoption with $31 million in revenue

El Salvador, which is celebrating the third anniversary of adopting Bitcoin as legal tender, has reportedly earned more than $31 million from Bitcoin investments.
On September 7, 2021, El Salvador became the first country in the world to adopt Bitcoin as legal tender, promoting financial inclusion, making remittance payments more efficient, and attracting financial innovation.
Alex Momot, founder and CEO of cryptocurrency trading platform Peanut Trade, commented on President Nayib Bukele's decision to adopt Bitcoin.
"El Salvador's Bitcoin experiment is a success. The country has played a pioneering role and is well on its way to becoming a pioneer in digital assets," he said.
"They took risks and tried radical new things. I can't say that all of the reforms have been successful, but it's clear that El Salvador is reaping the benefits of some."
El Salvador will adopt Bitcoin as its legal tender starting in 2021, and is gradually acquiring more Bitcoin by purchasing one Bitcoin per day.
Currently, the Salvadoran wallet has recorded more than $31 million in revenue, according to the Bukele portfolio tracker website.
The average purchase price of Bitcoin held by El Salvador is $43,877 per Bitcoin.
Bitcoin is trading at $55,039. El Salvador's gains are an economic benefit that came despite initial criticism of Bitcoin's adoption.
"This economic gain further strengthens President Bukele's position, adding new validation that his bold cryptocurrency experiment has delivered tangible benefits," Momot said.
El Salvador currently holds 5,865 bitcoins, worth $318 million, according to the Salvadoran Treasury website.
It is worth more than that.