El Salvador's $117.5 million Bitcoin investment briefly turned profitable, marking a potential turnaround in its controversial crypto venture.
Despite making Bitcoin legal tender in 2021, the country has struggled to integrate it widely for transactions and remittances.
President Nayib Bukele, despite criticism, continued Bitcoin purchases throughout 2022, following a dollar-cost-averaging strategy.
The venture's success remains questionable, with limited public Bitcoin adoption and unresolved issues like facilitating money laundering and tax evasion risks.