El Salvador will be the richest country in the world in 8 years?

[blatchcorn]

Might say it was not in perfect timing as the prices jump down but I don't think it was a mistake, in fact, some investors buy above that price ($50k). But I'd never think that was an issue with them, we know El Salvador has the faith that Bitcoin will soon recover and they could grow their investment. However, saying they become the richest country in the world, I was thinking they will surpass the 1st world countries because of Bitcoin, because of crypto investment, then it was really impossible. I don't underestimate them but couldn't make it in crypto investment alone.

The point is we get too excited about bitcoin and not willing to be realistic when it comes to Bitcoin. Jumping into bitcoin market with huge capital without prior knowledge is mistake lots of people make and result is they end up losing money. The news coming out from El Salvador after this adoption are not positive.
Bitcoin Is Costing El Salvador But President Bukele Isn't Stressed.

Crypto is starting to lose its cool – just look at El Salvador

[virasog]

Might say it was not in perfect timing as the prices jump down but I don't think it was a mistake, in fact, some investors buy above that price ($50k). But I'd never think that was an issue with them, we know El Salvador has the faith that Bitcoin will soon recover and they could grow their investment. However, saying they become the richest country in the world, I was thinking they will surpass the 1st world countries because of Bitcoin, because of crypto investment, then it was really impossible. I don't underestimate them but couldn't make it in crypto investment alone.

The point is we get too excited about bitcoin and not willing to be realistic when it comes to Bitcoin. Jumping into bitcoin market with huge capital without prior knowledge is mistake lots of people make and result is they end up losing money. The news coming out from El Salvador after this adoption are not positive.
Bitcoin Is Costing El Salvador But President Bukele Isn't Stressed.

Crypto is starting to lose its cool – just look at El Salvador

There might be some negative news floating about El Salvador that people are not happy using bitcoin in that country and so on but I am sure the reality is somewhat different. I don't believe in these articles because they may be self made view points only to discourage other countries to adopt bitcoin and become financially independent.

[amishmanish]

It all depends how much bitcoin  El salvador is able to hold as the bitcoin in long run, as it has economic liabilities as well. Yes I do agree that early investments  by El  Salvador will bear fruits for it in future. But to become a rich nation they need more than just crypto investments, they need to focus on becoming productive in terms of investing technology and industrializing their nation

[Doan9269]

But to become a rich nation they need more than just crypto investments, they need to focus on becoming productive in terms of investing technology and industrializing their nation

this is a fact, other areas of the the economy needed to be maintained and balance just to help lift the whole system to a better path, i believe Bukele will as well develop some strategies in place to tackle other aspects, but now that bitcoin adoption needed to stand firm and remained successful need lots of attention, its always a good idea to multitask but it is wisdom to learn how to finish a particular project into completion before embarking on another.

[Zilon]

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

If Bitcoin can achieve this sucess

At the current rate of growth, bitcoin will surpass gold in 4 years and the US dollar in 8 years, making El Salvador's efforts pay off, and making the country one of the richest and most prosperous in the world.

Then there is no doubt to El Salvador becoming the richest country in the world. This will mean a strong determination to hold and wait for a new bull run but 4 years looks like an overhyped speculation in real sense but in as much as the market is unpredictable anything can be achieved

[KennyR]

It all depends how much bitcoin  El salvador is able to hold as the bitcoin in long run, as it has economic liabilities as well. Yes I do agree that early investments  by El  Salvador will bear fruits for it in future. But to become a rich nation they need more than just crypto investments, they need to focus on becoming productive in terms of investing technology and industrializing their nation

The Center for Citizen Studies of the Francisco Gavidia University in El Salvador have made a survey. Out of 1300 respondents interviewed it is possible to see more than 50% still getting stuck with USD. It is the President Bukele who have been taking more measures to make the country progressive through bitcoin adoption. For now we don't know the situation, but in the long run surely the country is gonna benefit. In my view the country people haven't got unified, based on the survey response. The positive growth can be experienced only when the whole population believe in it.

Most Salvadorans Still Prefer US Dollar over Bitcoin

[Doan9269]

The news coming out from El Salvador after this adoption are not positive.

We know how the role of fake news could go to an extent especially in cryptocurrency, this was not from Nayib himself making the claim, it's rather fabricated to entice people, why is because i so much believe in news that was utterly presented from the involved personality, i see no reason when there's no official statement from El-Savador that it's regret taken the step on adoption of bitcoin as it legal tender and people and news all around were busy inflicting the media with fake news and articles amd not untill only if we consider them as feebles of bubbles in a thin air, they will continue to deceive people on media just to their own personal interest unknowingly to crypto enthusiast.

[ChiBitCTy]

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

Lol there is absolutely zero percent chance of that ever happening.  The United States government likely owns more bitcoin than we'll ever do but even if bitcoin skyrockets to 1 million per coin, there are many other countries who have much better/stronger economies.  It also simply comes down to size and they do not have the size (population/land size etc) as other economic super powers like China and the United States have.

[Piesel]

The news coming out from El Salvador after this adoption are not positive.

We know how the role of fake news could go to an extent especially in cryptocurrency, this was not from Nayib himself making the claim, it's rather fabricated to entice people, why is because i so much believe in news that was utterly presented from the involved personality, i see no reason when there's no official statement from El-Savador that it's regret taken the step on adoption of bitcoin as it legal tender and people and news all around were busy inflicting the media with fake news and articles amd not untill only if we consider them as feebles of bubbles in a thin air, they will continue to deceive people on media just to their own personal interest unknowingly to crypto enthusiast.

The only survey we should be concentrating on is the one from government institutions and not some private institutions, this is because government institutions will be open to more information most especially to official documents that may not be available to a private institution. We all have to wait for government-approved documents that will contain all El Salvador Bitcoin information and position.

[Rigon]

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

Nothing is impossible. It may be that El Salvador thinks that Bitcoin has passed a law in his country, but his country's bitcoin is being traded legally.Whenever Bitcoin transactions increase substantially, his country will reach the peak of further development.The value of bitcoins will increase even more if everything is traded through bitcoin. And at some point El Salvador might become the number one richest man in the world.

[Renato297]

More countries like El Salvador should approve the btc as legal, so the country's economy would advance as well as its population, and even more so if bitcoin manages to reach new historical records as the years go by.

[DoublerHunter]

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

Nothing is impossible. It may be that El Salvador thinks that Bitcoin has passed a law in his country, but his country's bitcoin is being traded legally.Whenever Bitcoin transactions increase substantially, his country will reach the peak of further development.The value of bitcoins will increase even more if everything is traded through bitcoin. And at some point El Salvador might become the number one richest man in the world.

^ But it remains impossible to me, BTC has nothing to do with El Salvador even though it will reach twice on each ATH, the 8 years range of prediction is relatively short, we know BTC, but it also took years before the correction will become to ATH. However, probably they will not be a riches country but I think their economy will become good and has improved for sure. I hope this will happen to them because if other countries saw what the outcome of their actions it will become they will follow what El Salvador did. The adoption of BTC becomes widely accepted.

[m_nief]

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

Nothing is impossible. It may be that El Salvador thinks that Bitcoin has passed a law in his country, but his country's bitcoin is being traded legally.Whenever Bitcoin transactions increase substantially, his country will reach the peak of further development.The value of bitcoins will increase even more if everything is traded through bitcoin. And at some point El Salvador might become the number one richest man in the world.

We can't predicting 8 years later will bitcoin have higher price or will drop under lower price, but I think with country like El Savador will change the government and not new government keep adopt bitcoin and hold it. Have chance later when new president dislike or try to get profit with bitcoin by selling it. But if keep hold for 8 years later maybe bitcoin can reach 3x from price right now but can El Savador hold bitcoin until 8 years later?

[Jatiluhung]

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

if to become the richest country I think the possibility exists. but my logic isn't in there yet. because after all every country continues to compete in advancing its country. and after el salvador adopted bitcoin and if in the future its adoption has been accepted by its citizens. then it will be a good achievement. and I think many countries will follow suit because they don't want to lose out.

but I myself became interested in bitcoin after hearing about the adoption of bitcoin by the country of el salvador. so i wish the best for el salvador.

[Piesel]

I don't think a country will become the richest country just because their legalized Bitcoin, but the revenue of El Salvador will only increase if their get directly involved in Bitcoin related ventures, and the Bitcoin bound and building a nationally own mining farm that will help increase the level of awareness and involvement in Bitcoin processing this are the only way the country will be ahead of it critics.

[btc_angela]

I don't think a country will become the richest country just because their legalized Bitcoin, but the revenue of El Salvador will only increase if their get directly involved in Bitcoin related ventures, and the Bitcoin bound and building a nationally own mining farm that will help increase the level of awareness and involvement in Bitcoin processing this are the only way the country will be ahead of it critics.

I think it's not because they legalized it obviously, but the way they accumulated it overtime and then hoping that bitcoin will go up in prices in the next 8 years. And so if that happens we don't know what kind of returns it will bring to the country's reserved.

One thing though, and I'm not sure about it, how long is the tenure of the sitting President Bukele? What if he lost on the next election? Will the next President elect will continue the country's patronage on bitcoin? That is something that they need to look in the future as well.

[Doan9269]

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

 BTC adoption will not magicaly cure the underlying economic issuse that have been present for decades. Even if BTC price goes up and El Salvador gets something out of it, that won't resolve the problems that preceeded.

what else could resolve that? if the lingering economy challenges can't have any impact from the government and the fiat financial system over decades don't you think bitcoin could be a game changer here, consider it role, how the economy inflation cannot affect bitcoin should also be a considerable thing here, all i expect from you is just a little more time for bitcoin to manifest impact.

The problem is people can turn on him if he doesn't produce results in a few years

What have we all done to our present failure dispensational government? Of which I believe bitcoin will do more of good than opposite if afooted by any government, while El-Savador has no issues regarding that, as a matter of fact, El-Savador is a less agitating country.

I still dont know how can a country buy BItcoin from nation money and that too when bitcoin was at its ATH.

Have you ever sit down to know what exactly a future could be with accuracy? Even the weather forecast aren't, but let me tell you this we all need to take risk either we like it or not, if El-Savador buys during ATH then what gives you the impression that the price will not keep rising?.

[DU18]

It all depends how much bitcoin  El salvador is able to hold as the bitcoin in long run, as it has economic liabilities as well. Yes I do agree that early investments  by El  Salvador will bear fruits for it in future. But to become a rich nation they need more than just crypto investments, they need to focus on becoming productive in terms of investing technology and industrializing their nation

El Salvador adoption of bitcoin was not only limited to making it an investment asset, but Bukele even started to make bitcoin a legal tender in the country and reportedly El Salvador also started building a bitcoin city at the foot of a volcano to take advantage of geothermal as energy to mine Bitcoin, the number of bitcoins currently owned by El Salvador is around 2,381 BTC worth more than $103.9 million and I think they will keep bitcoins for a long time because some time ago when the price dropped even El Salvador re-buy and add bitcoins to be stored, so we can imagine if later the bitcoin stock has decreased or is scarce due to mining off course make the price to go up, and of course we can't imagine the profits that El Salvador will get later if the bitcoin price goes up getting taller, besides now the world has entered the digital era and  it is possible that in the next few years many countries will start adopting bitcoin for their needs, just as El Salvador is doing today.

[AakZaki]

More countries like El Salvador should approve the btc as legal, so the country's economy would advance as well as its population, and even more so if bitcoin manages to reach new historical records as the years go by.

There are many considerations that could legalize Bitcoin like El Salvador. Because Bitcoin is currently still a minority in the world's financial institutions, the IMF and World Bank forbid it. So countries that legalize Bitcoin are certainly ready to receive sanctions from the IMF or world banks. Just look at China, they finally banned all crypto-related activities. It seems they are scared because of the decentralized nature of crypto. It is different from the money system from the government.

[BIT-BENDER]

I don't think that El Salvador has the chance of becoming the richest country in eight years not even their interest in Bitcoin can make that happen let's be realistic.
The economy of El Salvador is already bad at is it and their currency actually doesn't have much value, I still believe that their citizens would benefit more as the government are very crypto friendly.