Is El Salvador in debt because of the bitcoin price drop?

[willoweb]

It seems I have already spoken in this forum thread - but I will gladly repeat my theses. El Salvador has carried out and continues to carry out a reform in the financial sector that has no analogues in world history. Such an important and bold step is being taken with an eye to the long term. It is not a question of one or two years - it is worth evaluating such efforts after 5-10 years. The population must get used to it, and an appropriate infrastructure must be formed. I am sure that El Salvador and its people will ultimately benefit from this reform.

[dbc23]

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

[Obito]

It seems I have already spoken in this forum thread - but I will gladly repeat my theses. El Salvador has carried out and continues to carry out a reform in the financial sector that has no analogues in world history. Such an important and bold step is being taken with an eye to the long term. It is not a question of one or two years - it is worth evaluating such efforts after 5-10 years. The population must get used to it, and an appropriate infrastructure must be formed. I am sure that El Salvador and its people will ultimately benefit from this reform.

The problem with these is that the masses are going to have a hard time readjusting, remember that it's taking years before taking off so it's definitely going to be causing problems in short-term and that's what most people in a country can't handle, a period of inconvenience. I think that there's more to the debt of El Salvador than just bitcoin because I am sure a country needs money in order to grow in different aspects.

[coupable]

the media circulating, the impact of the decline in el salvador debt bonds swelled to become one of the worst performers, but strangely when crypto was destroyed, el salvador actually bought bitcoin, president tayib bukele dared to buy bitcoin, maybe tayib bukele believed that one day bitcoin would high again, and will make their economy better again.

All eyes are on them, especially those countries that are planning to do what they have done regarding bitcoins. In my opinion, they are doing exactly right buying in the dip and continue holding it until the price will recover again. since their debt has increased this year compared to last, I'm sure they considering other opportunities and ways to counter that problem and bitcoins will become one of their main solutions.

Only El Salvador citizens who invested in bitcoin following the adoption will suffer from debt because of the bitcoin price drop. Likely most of them don't know about how things work in the bitcoin system.
What i liked the most with El Salvador is that it adopted bitcoin over other altcoins like stable coins. It's a real investment for the future.
However, the country has to continue developping a whole infrastructure for a popular adotion. It's not an easy step imo for a third world country like El Salvador .

The same reason you like their decision is the same reason the El Salvadorian government chose Bitcoin over stable coins because they are stable. They needed something that will at least propel the country forward in terms of financial gains which is to be the outcome of an investment. the country has been in that financial problem and adopting stable coins wouldn't have made any impact except for Bitcoin Investment which will definitely make an impact on the economy if they keep on other infrastructural development around it. 

I don't agree with you in the point tht they chose bitcoin over stable coins as offcial currency but also as a official way of payment.