El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻

[Popkon6]

...
The government of El Salvador, Nayib Bukele, has made Bitcoin eligible for use as the currency of his country, which is the biggest achievement. ...

As much as I like Bitcoin, I would have to dis-agree.  It's big, not the biggest.  It's a part of a more broad solution.
To me, Bukele's biggest accomplishment has been fighting against very powerful global forces who adeptly use crime and dysfunction as their means of controlling societies and expropriating their resources.  

Bitcoin is part of El Salvador achievements and same as the president Nayib Bukele, ever since bitcoin adoption, it could be noted that in El Salvador, the crime rate has also reduced drastically because the people have more reason to have a sustainable economy under a decentralized financial system developed and they have adopted as a legal tender in the country.

In the country of El Salvador, they have been able to improve more by accepting Bitcoin at the present time, more Bitcoin consciousness will emerge in the future among every person. And at the present time, the country of El Salvador has become an example for other countries, because they have surprised a unique country in the world by accepting Bitcoin as legal tender.
And they have spread the message of Bitcoin among the people of the country and gradually attracted more people to use Bitcoin.

Therefore when it comes to their achievements, there is more to point out on in the country ever since bitcoin adoption, things have always been more better and they are seeing as a tourist attraction for the whole world to emulate and learn about Bitcoin, while everything has been made available for the citizens to also embrace the same opportunity for their own other me al prosperity.

El Salvador has many successes, but I will mention a few that are centered around Bitcoin. They have put the Bitcoin logo on their passports, and you can see the Bitcoin logo at their airports, the people of El Salvador are aware of Bitcoin, and from seven-year-old children to adults, they are spreading the light of Bitcoin and teaching about Bitcoin. The country has reduced the number of crimes to a minimum, where a tourist can travel around El Salvador using Bitcoin without being harassed by any criminal.
Because the number of crimes in El Salvador has now dropped to almost 0, the entire credit for this is due to the government of Nayib Bukele and the fact that El Salvador has now become a Bitcoin-friendly country.

[SPIDERMAN008]

El Salvador has recently added more Bitcoin to their national reserves and according to the latest update, their Bitcoin holdings now stand at 7,653.37 BTC. Their continued holding of Bitcoin in their national reserves could be a good example for many countries as many countries have misconceptions about Bitcoin, while El Salvador is enriching their reserve fund with Bitcoin.
Source

Whenever I see news that El Salvador has bought more Bitcoin, I feel that a country, beyond individuals or institutions, is regularly DCAing Bitcoin. Which is really inspiring for small investors like us who have just started or who have learned about new Bitcoin and are thinking about investing. Because I see DCA as the most correct method of investment, which is able to give equal advantage to both new and experienced investors. And when a country follows this method, it should really be a lesson for all  kinds of investors.

As a small country, El Salvador has now come a long way. And due to the legalization of Bitcoin, their tourism sector has also increased a lot. The government in that country should continue to buy Bitcoin with the profits from where they are benefiting and the economic development is happening due to the legalization of Bitcoin.

Maybe their plans are much more far reaching. Because if the thinking of the government or president of a country is not future oriented, it can be a threat to the people of the country. And I see President Nayib Bukele as a fairly successful head of state. Because of his foresight, he is holding Bitcoin and has approved Bitcoin, which could further enrich the country's economy in the future.

[Stive009]

It is worth note, and is hopeful to note, that Bukele and/or his closer advisors put up something in the airport which is pure Bitcoin and no shitcoin.

My guess is that Bukele's justice system probably would hear a case and discharge the debt of a transaction paid in Bitcoin as long as it was mutually agreed between the transaction participants.  In that way it could be argued that Bitcoin is 'legal tender'.  Just not 'legal tender for all debts public and private.'  Of course the same could apply to a truck-load of eggs.

I know of plenty of instances where Bitcoin has been used to settle transactions in the country, but it's a hassle which the locals are not inclined to undergo unless it is worth it.  That is to say, multi-thousand dollar transactions which will occur only if BTC is accepted.  Generally the locals know BTC exists, but it's a confusing hassle from their perspective.  It's actually quite easy to get funds from the Chivo machines, but when these machines fail(?) and simply steal their money, it's nearly impossible to get support.  Any middle-men involved in a transaction are going to extract their pound of flesh, and that includes the Chivo operators (whoever they may be these days.)

The same pound of flesh thing happens in the normal banking system of course, and outrageous delays happen in higher value transactions such as buying a car.  The banks will sit on $50k and I suspect take interest on it for the full three weeks or whatever they are allowed.  But the people are used to it and indoctrinated enough to think it is normal (or even a good thing!)

If/when the peeps realize that using self-custody BTC can reduce $500 worth of bank fees and a 3 week wait down to a $0.11 fee and 20 min wait, El Salvador will be more primed than most to move in that direction assuming the government maintains support for doing so.  But this applies mainly to higher value professional work.  Most people cannot afford a pot to piss in, and transactions where real BTC makes the most sense are in a fairly rarefied category.  L2 BTC and shitcoins might make more sense for a bulk of transactions, but even then probably 1/3 of the peeps don't own a smartphone.

The upshot of the above is that Bukele's government seems to remain supportive of crypto and of real BTC in particular.  Hopefully they are just sitting on their hands until a good opportunity to allow adoption pops up, and I personally believe that such a thing is the best course of action.  We might not have to wait for to much longer for a good opportunity given the goings-on in Iran and what that will mean for systems built around the USD world reserve currency regime.

Your words are quite logical, but from the perspective of the common man there are some major obstacles. For example, almost one third of the country's population does not have a smartphone which is the biggest barrier to this technology. On top of that the way Bitcoin's price fluctuates wildly, it is natural for an ordinary daily wage earner or small businessman to be afraid to rely on it. Bitcoin may be an alternative if the dollar loses value due to Iran or a global crisis but the common man still considers the old banking system safer than an unsupported system like the Chivo machine no matter how much time it takes or how much suffering it causes.

[nfuorus]

Well bitcoin as a asset has proven to be reliable, it shouldn't be a surprise when countries began to adopt the concept of utilizing bitcoin as a means for transactions. El Salvador becoming the first country to take that bold step is a great and surprising news for the world but we shouldn't forget that bitcoin has prove to be a reliable decentralized mechanism for global transactions.
We expect more countries to join the cue as the world adopts bitcoin as a true reliable global means of transactions.

[famososMuertos]

Well bitcoin as a asset has proven to be reliable, it shouldn't be a surprise when countries began to adopt the concept of utilizing bitcoin as a means for transactions. El Salvador becoming the first country to take that bold step is a great and surprising news for the world but we shouldn't forget that bitcoin has prove to be a reliable decentralized mechanism for global transactions.
We expect more countries to join the cue as the world adopts bitcoin as a true reliable global means of transactions.

Heee!
You speak as if you're just finding out what's happening in El Salvador. The topic is quite advanced, and the conversation in this thread is actually about its current situation. In any case, it's incredible to think that it was in 2021. In my case, it's one of those dates that are definitely already an unprecedented part of Bitcoin's history.

[Popkon6]

Well bitcoin as a asset has proven to be reliable, it shouldn't be a surprise when countries began to adopt the concept of utilizing bitcoin as a means for transactions. El Salvador becoming the first country to take that bold step is a great and surprising news for the world but we shouldn't forget that bitcoin has prove to be a reliable decentralized mechanism for global transactions.
We expect more countries to join the cue as the world adopts bitcoin as a true reliable global means of transactions.

What you are thinking about now has happened to El Salvador in the past, but we will move forward with a more advanced and more informative discussion. If you look at the patterns of El Salvador, you will definitely be surprised, because the current situation is leading El Salvador to more progress. So on average, they are ready to transact more Bitcoin than in the past and have been able to increase the number of Bitcoin users and they have been most successful in promoting it among the people.
Especially now, the new generation of children has started to learn about Bitcoin, so the more we move forward into the future, the more we will see the success of El Salvador.

[Luzin]

I read the latest news that El Salvador was able to buy 8 BTC in 7 days. Until now, their total holdings have increased to 7,661.37 BTC. Purchases using the DCA system continue to be made until today. I am quite curious because they have not released a plan to sell them. But if they don't sell, until when? Indeed, in the current condition of digital currency, El Salvador is very large. But if it is converted into fiat and used for development, it seems it will make El Salvador even better.

[ruykeri]

I read the latest news that El Salvador was able to buy 8 BTC in 7 days. Until now, their total holdings have increased to 7,661.37 BTC. Purchases using the DCA system continue to be made until today. I am quite curious because they have not released a plan to sell them. But if they don't sell, until when? Indeed, in the current condition of digital currency, El Salvador is very large. But if it is converted into fiat and used for development, it seems it will make El Salvador even better.

They know when they will sell Bitcoin. However, since the government of a country has planned to buy Bitcoin, they must have a long-term holding mentality. If they think about the future, where fiat currency may lose popularity and acceptance around the world, then the acceptance of Bitcoin will increase. Its price may also go beyond our imagination. At that time, the countries that will have Bitcoin will be developed countries. They will continue to do development work of the country and will be able to manage the economy through their Bitcoin holdings. Although this is just my idea, it could happen. If a country wants to  stay with the world, they have to give importance to all things. The fact that El Salvador has given importance to Bitcoin and is continuously doing DCA is really a good thing. This will definitely be profitable for them in the future.

[Nathrixxx]

I read the latest news that El Salvador was able to buy 8 BTC in 7 days. Until now, their total holdings have increased to 7,661.37 BTC. Purchases using the DCA system continue to be made until today. I am quite curious because they have not released a plan to sell them.

What does the selling decision or not has to do with the market performance when they are yet to give any information about their intention to sell, maybe we should not just trigger them to some things they may not wanted to do or give public impression about what is not, El Salvador is not the only investor that is found in this, look at BlackRock and Nicrostrategy as well, the all have been buying and have nothing to do with selling for now.

But if they don't sell, until when? Indeed, in the current condition of digital currency, El Salvador is very large. But if it is converted into fiat

Who knows, I'm only confident and sure of one day, they will definitely sell, maybe after some decades, who knows the value might have gotten up to a million dollars before they begin to sell after the would have made a lot of profit from their investment, it pays to hold more than to sell.

[avp2306]

I read the latest news that El Salvador was able to buy 8 BTC in 7 days. Until now, their total holdings have increased to 7,661.37 BTC. Purchases using the DCA system continue to be made until today. I am quite curious because they have not released a plan to sell them. But if they don't sell, until when? Indeed, in the current condition of digital currency, El Salvador is very large. But if it is converted into fiat and used for development, it seems it will make El Salvador even better.

They don't release their plans on when they would sell their Bitcoins. What's clear for now is they choose to consistently buy Bitcoin's then HODL it for long term.

But try to read this

https://coincentral.com/el-salvador-breaksdown-2026-strategy-for-bitcoin-and-ai

https://bitcoinfoundation.org/news/bitcoin/bitcoin-vs-el-salvador-how-the-countrys-btc-investment-strategy-changed-in-2026

maybe you learn something from those articles.

[Doan9269]

Everyone of us have to be strategic about how we are investing in Bitcoin and also keep it to ourselves until we are fully ready to make a move that is profitable enough for us, what's the announce what we are doing is the success we have achieved just like receive from El Salvador, until they make the actions we don't see their planning strategies, for every investor that is willing to come into bitcoin network, this should be a lesson to us all, so that we don't stand being predictable by other actors who are going to take advantage of Us because of the known decision to them.

While as regard to me whether El Salvador is going to sell it Bitcoin now or sooner, none of these facts can be established, they are more strategic in their holdings and will rather prefer buying more than selling at any time soon, an even though they are going to sell, it's going to be a surprise to all and the more they will still have the ability of buying to hold again more than before.

[JayJuanGee]

I read the latest news that El Salvador was able to buy 8 BTC in 7 days. Until now, their total holdings have increased to 7,661.37 BTC. Purchases using the DCA system continue to be made until today. I am quite curious because they have not released a plan to sell them. But if they don't sell, until when? Indeed, in the current condition of digital currency, El Salvador is very large. But if it is converted into fiat and used for development, it seems it will make El Salvador even better.

They don't release their plans on when they would sell their Bitcoins. What's clear for now is they choose to consistently buy Bitcoin's then HODL it for long term.

But try to read this
https://coincentral.com/el-salvador-breaksdown-2026-strategy-for-bitcoin-and-ai
https://bitcoinfoundation.org/news/bitcoin/bitcoin-vs-el-salvador-how-the-countrys-btc-investment-strategy-changed-in-2026
maybe you learn something from those articles.

Investors, whether individuals, institutions and/or governments, do not need to sell or plan to sell in order to profit from holding a pristine asset that likely goes up in value faster than other assets...

Guys who believe that selling is necessary in order to "lock in profits" do not likely understand the difference between investing and trading... since it hardly makes any sense to sell a superior asset for an inferior one, even though surely there may well be some presumptions that there is a need to consume the "profits" from the investment, which also seems to relate to mistaken ideas about what motivates and justifies ongoing investment without having to immediately consume as soon as "profits" are perceived.

[CryptoYar]

[...]

Selling an asset in clean network back into dwindling government currency to realize nominal capital gain is indicative of very great misconception when it comes to preservation of large amounts of wealth over time. Real financial freedom would lie in escaping trap of inflationary banking systems forever, and not using few global protocols that are scarce as vehicle with which to accumulate more paper liabilities in short run.

To me, the last stage in structural cycle transition is to put your capital in form of clean collateral instead of selling it. Advanced market actors will borrow domestic fiat on their rising possessions to financing instant bodily consumption demands without eliciting unneeded tax punishments. The worst strategic error is selling hardest money you can get to hold structural melting ice cube and essentially water completely down your multi cycle buying power.

[tiCeR]

...

They don't release their plans on when they would sell their Bitcoins. What's clear for now is they choose to consistently buy Bitcoin's then HODL it for long term.

But try to read this
https://coincentral.com/el-salvador-breaksdown-2026-strategy-for-bitcoin-and-ai
https://bitcoinfoundation.org/news/bitcoin/bitcoin-vs-el-salvador-how-the-countrys-btc-investment-strategy-changed-in-2026
maybe you learn something from those articles.

Investors, whether individuals, institutions and/or governments, do not need to sell or plan to sell in order to profit from holding a pristine asset that likely goes up in value faster than other assets...

Guys who believe that selling is necessary in order to "lock in profits" do not likely understand the difference between investing and trading... since it hardly makes any sense to sell a superior asset for an inferior one, even though surely there may well be some presumptions that there is a need to consume the "profits" from the investment, which also seems to relate to mistaken ideas about what motivates and justifies ongoing investment without having to immediately consume as soon as "profits" are perceived.

This and I think chances are very high that those who take profits today are those who end up buying back bitcoin at a higher price later down the road. Since, as you said, it is a pristine asset, the long term chances for the price to go up are very real and I doubt that the majority of those who take maybe a 50% profit, will then hold back and just watch bitcoin develop while not getting back in. It should be well thought through whether someone is willing to take profit off the table with the severe risk to watch it go up further afterwards. Too many people have been there, buying back at higher prices than they sold for.

The network isn't saturated, adoption is going on, functionalities like lending against bitcoin are rolled out, the role that bitcoin plays within the economy will most likely expand. Of course it depends whether an investor decides to sell 10% of their bitcoin or 100% of their bitcoin. It can make sense to sell a small portion, but very often this topic is discussed in a binary fashion: either own bitcoin or sell 100% of it. That doesn't make sense.

[JayJuanGee]

[edited out]

It can make sense to sell a small portion, but very often this topic is discussed in a binary fashion: either own bitcoin or sell 100% of it. That doesn't make sense.

You are right, tiCeR..

Even smart people (including institutions and/or governments) can be quite retarded in regards to how they might accumulate bitcoin in the event that they even decide to get in, and even when they might act as if they are investing, they cannot get over some of the underlying "trading" inclinations, and tending to be dumbass ideas of selling some and buying back cheaper later, and they engage in selling (trading) as a way of accumulating bitcoin when they have not even gotten close to either building a decent enough stash size and/or they have not spent time sitting on their bitcoin, such as at least a whole cycle if not more.

There tends to be ONLY so much that can be done to save people (as well as institutions and/or governments) from themselves and their own likely failure to really look into the bitcoin matter beyond superficial ideas of number go up and/or their misconceptions that bitcoin is a relatively "mature" asset.

[Dunamisx]

For sure we keep hearing everybody talking about bitcoin and it is getting more traction as ever before, this is also what we have to talk about the government and even our individual decisions when it comes to bitcoin investment, government may not be equals to their to support everything that has to do with this decentralized opportunity, because they are not going to benefit from it as the way everyone of us are going to see it influences in the positive manner.

When El-Salvador adopted bitcoin as a legal tender, he also consider the people as their utmost priority because they know that everything that has to do with Bitcoin option must be majorly accepted by them, does bitcoin is not meant for censorship or any form of centralization to regulate it, the people will decide on how they will engage the use of Bitcoin and make every necessary opportunity out of it for their own financial freedom just as the way we have it today in El Salvador, well this is possible because of their sensitive government.

[Halifat]

[edited out]

It can make sense to sell a small portion, but very often this topic is discussed in a binary fashion: either own bitcoin or sell 100% of it. That doesn't make sense.

You are right, tiCeR..

Even smart people (including institutions and/or governments) can be quite retarded in regards to how they might accumulate bitcoin in the event that they even decide to get in, and even when they might act as if they are investing, they cannot get over some of the underlying "trading" inclinations, and tending to be dumbass ideas of selling some and buying back cheaper later, and they engage in selling (trading) as a way of accumulating bitcoin when they have not even gotten close to either building a decent enough stash size and/or they have not spent time sitting on their bitcoin, such as at least a whole cycle if not more.

There tends to be ONLY so much that can be done to save people (as well as institutions and/or governments) from themselves and their own likely failure to really look into the bitcoin matter beyond superficial ideas of number go up and/or their misconceptions that bitcoin is a relatively "mature" asset.

So many people believe that Bitcoin is just give and take which is not so, bitcoin investment require a lot of patience because I don't think in any way that you can outsmart bitcoin investment, such person is just trying to bless maths by pretending to be holding. In this case the company will one day be at lost,  what they usually do is that they don't invest what they can afford to lose and that is why they don't have patience of holding and also accumulate more, one thing that will make them fail in the future is that, they try to predict the price and one thing I know for sure if one day the price fail definitely there will be forced to sell that bitcoin and they'll run at loss because the particular money they are using is not the one they can risk.