(Bloomberg) -- El Salvador’s Bitcoin holdings have lost 60% of their value amid this week’s sell off of the digital coin after Binance Holding Ltd.’s withdrew its offer to buy FTX.com.

The country’s 2,381 Bitcoin are now worth $41.5 million at current prices, below the roughly $105 million the government paid to purchase them, based on calculations by Bloomberg using Tweets from President Nayib Bukele. Bitcoin rose on Thursday, paring Wednesday’s declines. 

The government doesn’t publish data on its Bitcoin holdings. Finance Minister Alejandro Zelaya said in an interview on Wednesday with local television program Frente a Frente that the government has not sold any of its Bitcoin and has therefore not realized any loss. Binance CEO Changpeng Zhao said on Twitter Thursday that Bukele informed him the country has no Bitcoin on FTX. 

El Salvador’s representatives at the finance ministry and the presidency didn’t immediately reply to a request for comment. 

“It’s not going to affect us. We haven’t sold any of our possessions,” Zelaya said. “You can’t realize a loss when you don’t sell. No financial decision maker would make the decision to sell when things are down.” 

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