El Salvador’s President Nayib Bukele announced that the country’s Bitcoin investment has turned a profit as the price of the cryptocurrency surpassed $40,000 for the first time in nearly two years. El Salvador began purchasing Bitcoin in September 2021, and its current stash is valued at over $130 million.Bukele revealed that El Salvador’s Bitcoin portfolio has a net profit of $3.6 million following the recent surge in Bitcoin’s price to over $42,000. Despite the profit, Bukele emphasized that the country has no intention of selling and will maintain its long-term strategy despite the volatile nature of Bitcoin’s price.El Salvador made headlines in 2021 when Bukele announced that Bitcoin would be recognized as legal tender in the country. The move faced criticism from global organizations like the International Monetary Fund (IMF), who argued that it posed risks to financial stability and market integrity.Bukele has consistently defended the Bitcoin investment and called out critics who reported on the losses El Salvador supposedly incurred. He urged them to acknowledge the country’s current gains and issue retractions or apologies.In the United States, two Senators proposed a bill to examine El Salvador’s ability to manage financial risks associated with cryptocurrency and monitor the impact of its Bitcoin law on both the country and the US.Overall, El Salvador’s Bitcoin investment has proven profitable, despite facing criticism and skepticism. The country remains committed to its long-term strategy and continues to hold its Bitcoin portfolio.