The world's first government to buy Bitcoin for use as legal tender, El Salvador, has likely lost money on the trade, according to Bloomberg, to the tune of around 10 million dollars.
In a report Thursday, Bloomberg said El Salvador appears to have bought around 71 million dollars worth of Bitcoin since it started buying last September, based on tweets by President Nayib Bukele.
It's kept buying at an average price of around 51-thousand dollars.
Assuming the government has held onto the tokens, Bloomberg says, they're now worth around 61 million.
It also notes that this loss is dwarfed by the plunge in El Savadorean bonds, which posted the world's worst performance last year, raising borrowing costs for the government.