Nayyib Bukele, the President of El Salvador, stated on Mar 11. via social media that the country earns various revenues from Bitcoin through different channels in addition to its BTC holdings.

The President outlined four additional sources of Bitcoin revenue for the government, including earnings from its passport program, income from Bitcoin mining, profits from assisting local businesses with BTC to USD conversions, and revenue from undisclosed government services.

El Salvador's innovative "Bitcoin for citizenship" program allows up to 1,000 individuals annually to obtain citizenship by investing $1 million worth of BTC or USDT in the country. Moreover, the nation has invested $1 billion to establish one of the largest Bitcoin mining facilities, prioritizing renewable energy sources and allocating 23% of the mining project's net proceeds to the government.

President Bukele also mentioned gains from converting BTC to USD, benefiting local enterprises, and pioneering financial instruments like Bitcoin bonds.

El Salvador's BTC investment coincided with a 70% gain following a crypto market rally, resulting in a total portfolio of 2,861 BTC valued at approximately $207 million, with an unrealized profit of about $85 million.

Despite significant gains, President Bukele stated that El Salvador intends to keep its BTC holdings as a permanent reserve, reflecting a long-term commitment to its crypto strategy.