We know that El Salvador was the first country to make bitcoin legal tender in their country. And he's doing all of this while the price of bitcoin is rising. And they continue to notify us about their new investment in bitcoin. How much bitcoin did they buy, and when did they buy it? How much did they spend on the average price of a bitcoin? Because of the recent massive drop in bitcoin, I assumed that this bitcoin drop had put them in debt. If this dump continues for some more weeks, then it might be problematic for the El Salvador government. Because the opposition party has something to blame them for any kind of debt. And because of the economy, stocks and fiat investors also have something to say against Bitocin. If this happens, then other countries will be really confused about making bitcoin legal tender. To make it legal tender, they might study the case of El Salvador.
It's just my speculation. What do you think about my speculation? I really appreciate your opinion.
They will run into debts because the bought bitcoin at a high price and will have to wait till the market regains another bull run to return to profit. don't be surprise this is not stopping El Salvador from taking advantage of the bear market to buy more. El Salvador has been sanctioned by IMF in recent times about their Bitcoin investment and also made threats of restricting El Salvador from future loans if they continue with Bitcoin but I just see the commitment in the adoption of Bitcoin by El Salvador despite the state of the market