El-salvador bitcoin investment is underwater

[sklopan]

Considering the current price, which is three times less than the moment of purchase, I think that the authorities are extremely pleased Well, we are waiting for the result and further developments.

[The Cryptovator]

The accumulation zone for El Salvador is high if you compare it with the current price. But if you compare it with ATH then looks fine. We all know Bitcoin has been repeating history again and again whether ATH or dump. So I believe El Salvador is doing nothing wrong. They are still Accumulating that have been reducing the average bought price. We don't know where exactly Bitcoin will stop dump or bottom. So Accumulating more Bitcoin would help El Salvador in the future. If they aimed to hold, then Definitely they will be the gainer.

[Fivestar4everMVP]

Like we commonly say "Not in loss until you sell", I believe El-Salvador has not actually lost until they decide to sell their Bitcoin stash at a price lower than their buying price, the price of Bitcoin might have gone really down in this few weeks , but the chance of it going back up again is still there are  very high, i can even go up far above its previous all time highs.
So for El-Salvador, I think all they can do right now is to hodl, Bitcoin price have always returned higher, stronger and better than its previous all time high price in all its previous bear seasons, I believe this one will not be an exception, El-Salvador should keep holding strong and turn a total deaf ears to critic, there investment in Bitcoin will sure pay off at last.

[Finestream]

El Salvador's president looks bullish on Bitcoin and from his recent tweets he may not be purchasing more Bitcoin but rather will be looking away from the price chart, and this purchasing mentality is what make the El Salvador Bitcoin bound timeless.   This relates more when price is not the focus  but the number of Bitcoin in their Bitcoin stake. 1BTC=1BTC

What's good thing about Bukele is he never loses hope and continue to have strong faith in bitcoin despite of some bitcoin attacks seeing its value has shown more price decline than price surges. And just this recent price downtrend, he bought another set of bitcoin which means a huge portfolio is waving for great profits when the market turns to bullish. Though other countries underestimate El Salvador, that don't stop Bukele to continue what he has started and even became a big fanatic of bitcoin.

[aoluain]

~snip~

Exactly. El Salvador's President knew what we was going to get into. Otherwise, we wouldn't had invested into Bitcoin in the first place. Bitcoin's been shown from time to time that it always goes up after a long-standing bear market. This is the moment to buy more Bitcoin, not to panic.

Only long-term "hodlers" will see the benefits in the future once everything goes back up again. Haters will always criticize you, but you'll be the one laughing at the end as Fiat collapses due to inflation. Who knows if other countries "mimic" El Salvador's decision to adopt Bitcoin as legal tender in the long run? Just my thoughts

Haters gonna hate.

Admittedly, Bitcoin goes through severe corrections from time to time. Fiat also falls every now and then. The only difference is that for the rest of the time Bitcoin is slowly rising while fiat is continuously falling. The haters can't deny that. If we zoom out, we're seeing Bitcoin's line going upward and fiat's going downward. That's something nobody can deny.

Bitcoin's critics are free to nitpick. We've been observing that all the time. They're particularly very noisy when the market is bearish. For the rest of the time, they're wallowing in regret.

Thats a great synopsis Darker45! the haters certainly do come out of the caves with the Bears.

...and "El Salvador" knew when entering into Bitcoin and taking the daring move of adopting
Bitcoin all the potential market moves. Its also clear from their recent DCA purchase that Bukele
can see opportunities when others see disaster. Its  something a number of us posted earlier
in this thread. It was the right move to make and the timing was right.

[Slow death]

He can do the following:

1 - buy more bitcoin at this price of 19000$ (just take twice the money he bought at $45000 and buy at $19000)

2 - if the price drops below $19000 while he already bought at 19000$, he just buys it again

3 - when bitcoin goes back to $45000 he will have made a big profit that he won't even remember that he bought at $45000 and had to wait an eternity for the price to get back to $45000

[dunfida]

El Salvador Purchases 80 Additional Bitcoin at $19K, President Bukele Says
Source: https://www.coindesk.com/business/2022/07/01/el-salvador-purchases-80-additional-bitcoin-at-19k-president-bukele-says/

El Salvador Buys More Bitcoin Despite 57% Loss and Debt Woes
https://www.bloomberg.com/news/articles/2022-07-01/el-salvador-buys-more-bitcoin-despite-57-loss-and-a-debt-crisis

Yes, its underwater but doesnt mean that they would be cutting loss but instead they do accumulate.
There's nothing we can do on here.  Its president is too bullish towards bitcoin.

[Abiky]

El Salvador Purchases 80 Additional Bitcoin at $19K, President Bukele Says
Source: https://www.coindesk.com/business/2022/07/01/el-salvador-purchases-80-additional-bitcoin-at-19k-president-bukele-says/

El Salvador Buys More Bitcoin Despite 57% Loss and Debt Woes
https://www.bloomberg.com/news/articles/2022-07-01/el-salvador-buys-more-bitcoin-despite-57-loss-and-a-debt-crisis

Yes, its underwater but doesnt mean that they would be cutting loss but instead they do accumulate.
There's nothing we can do on here.  Its president is too bullish towards bitcoin.

The President hasn't sold a single Bitcoin yet, so I'd say El Salvador's investment is still intact. As I've said before, you can only lose money if you sell your Bitcoin. It will never go to zero because many people still trust it as an alternative to the current monetary system. Long-term speaking, Bitcoin should go up in Fiat terms as the latter collapses due to ever-increasing inflation rates.

I'm certain El Salvador will become a developed country in the future due to the adoption of Bitcoin as legal tender. That is assuming President Bukele stays in power. If he loses re-election, then its probable the new President will ditch Bitcoin altogether. What matters is that Bitcoin stays true to its roots so that it could bring banking to the unbanked. Who knows if someday Bitcoin becomes the standard unit of account used by many countries worldwide? Just my thoughts

[btc78]

Bitcoin Purchase Timeline of El Salvador

 El Salvador has come a long way on the journey to bring Bitcoin into people's daily purchase.
The country took numerous actions to realize the Bitcoin dream

Why expect too much at the early stage? EL Salvador's adoption of Bitcoin happened recently and there are so many things to face for , and I also believe that sooner or at least in the couple of years? their action will worth how much they push this  and also as they are continuously purchasing bitcoin then this is a proof that they are truly into crypto, but the problem will occur once the new government comes, because we don't know what will be the stand of the next president of this country.

[Minecache]

The bitcoins El-Salvador are accumulating don't stop, the price goes down they still buy, so it can't be said that they are underwater.
They bought and tried to hold and never intended to sell any bitcoin, We all know that bitcoin price drops are inevitable, which should come as no surprise to those who have entered the market perennial and President El-Salvador knows it as well as we do.
El-Salvador will succeed because bitcoin can't drop forever as long as they keep their spirit of not selling bitcoin, ignoring the criticism out there.

[AakZaki]

Already bitcoin is into criticism. Even in real life without criticism none could've reached a better position. We know it is part of life, and same is with bitcoin. Investment in bitcoin is always risky, very few have the courage. One such person to take strong decision is El Salvador President Nayib Bukele. He's positive about the market, and why should we speculate it can drop hard. Let us too stay positive. If El Salvador economy takes a downfall, the next to adopt bitcoin will do it with even better plans.

The nyib bukele decision is a decision that has been approved by many councils, not just a Bukele initiative. Remember that EL Salvador is a government country, they have a lot of considerations to decide everything including bitcoin investment. I think the elsalvador economy is still far from falling, because el salvador still has a lot of income.

[BitcoinPanther]

El Salvador just needs to DCA, they have government funds, and they can always allocate an amount for Bitcoin purchases during this bear market to lower the average cost of their Bitcoins. 

Already bitcoin is into criticism. Even in real life without criticism none could've reached a better position. We know it is part of life, and same is with bitcoin. Investment in bitcoin is always risky, very few have the courage. One such person to take strong decision is El Salvador President Nayib Bukele. He's positive about the market, and why should we speculate it can drop hard. Let us too stay positive. If El Salvador economy takes a downfall, the next to adopt bitcoin will do it with even better plans.

The nyib bukele decision is a decision that has been approved by many councils, not just a Bukele initiative. Remember that EL Salvador is a government country, they have a lot of considerations to decide everything including bitcoin investment. I think the elsalvador economy is still far from falling, because el salvador still has a lot of income.

but sometimes the leader's voice is the loudest and most influential.  Even though it might probably be a council vote, a suggestion from a higher position is the same as giving a command.  So I believe the El Salvador action towards bitcoin is greatly influenced by Bukele.

[Dunamisx]

We don't know where exactly Bitcoin will stop dump or bottom. So Accumulating more Bitcoin would help El Salvador in the future. If they aimed to hold, then Definitely they will be the gainer.

El-Savador has made its own choice which is pretty ok by them, the best idea is to set an investment first and wait for it future yieldings, there investment is on bitcoin and not on shitcoins, then i think they deserve i bow for this courage, no matter how down it may appears, it will still finds it way up the bullish trend soon.

Considering the current price, which is three times less than the moment of purchase, I think that the authorities are extremely pleased Well, we are waiting for the result and further developments.

There are no authorities elsewhere this is bitcoin and its decentralized, don't join the lane of those whose believe was that bitcoin is being manipulated by some high authorities, that is just a simple explanation that they don't understand what decentralization means.

[AakZaki]

~snip~

but sometimes the leader's voice is the loudest and most influential.  Even though it might probably be a council vote, a suggestion from a higher position is the same as giving a command.  So I believe the El Salvador action towards bitcoin is greatly influenced by Bukele.

Bukele is indeed very important in the decision about buying bitcoin. But as long as their finances can still be controlled, of course it will not be a problem. Remember that El Salvador also has Bitcoin mining which uses energy from volcanic mountains and this also adds to the profits for El Salvador. No other country is bolder than El Salvador on how to adopt bitcoin and invest in it. An amazing country and certainly seeing a future with bitcoin.

[PX-Z]

El-Savador has made its own choice which is pretty ok by them, the best idea is to set an investment first and wait for it future yieldings, there investment is on bitcoin and not on shitcoins, then i think they deserve i bow for this courage, no matter how down it may appears, it will still finds it way up the bullish trend soon.

Plus the total bitcoin investment of el salvador is just a mere x.xx% compare to its national net worth. If their authority is not worried of this dip (base on their recent updates) then that's it. People are really minding other people's business where in fact they dont share the same ideology at the first place.

[goldkingcoiner]

Bitcoin is a long term investment. When an entire government invests into something you can be sure that they have entire teams of the best advisors money can buy making the strategy and doing the research.

So no, El Salvadors investment in Bitcoin is not "underwater". Its a long term investment and anyone who understands Bitcoin knows whether 50k, 60k or 20k, these are good times to buy.

[Dunamisx]

El-Savador has made its own choice which is pretty ok by them, the best idea is to set an investment first and wait for it future yieldings, there investment is on bitcoin and not on shitcoins, then i think they deserve i bow for this courage, no matter how down it may appears, it will still finds it way up the bullish trend soon.

Plus the total bitcoin investment of el salvador is just a mere x.xx% compare to its national net worth. If their authority is not worried of this dip (base on their recent updates) then that's it. People are really minding other people's business where in fact they dont share the same ideology at the first place.

I like the word minding one's business, this is what most of our government needed to understand that not everything they have to be in control of, same way they cannot handle or control the bad of the economy makes them more incapacitated to control relevant actions taken by anyone to save it's economy, what works for them may not necessarily work for others in likes manners, bitcoin adoption in El-Savador is what others feels they would have started first but taking a decision is a choice that needs no centralization.

[KingsDen]

There is absolutely new ideology ringing in my mind, I don't know if another person is thinking same thing.

Firstly, we acknowledge that El Salvador made bitcoin their legal tender, which means bitcoin is their money for saving and also for daily transactions. So, if the country is saving I'm bitcoin which is there legal tender, we should stop seeing it as a mistake or a big deal.
The country or the president per say believes in bitcoin and has made bitcoin their money, so it shouldn't amaze us that they are buying more bitcoin.

[Captain Corporate]

Its quite true, they are really not focusing on it like an investment for today, they are considering it as an investment for their children and people can't see that. Government doesn't have a lifetime, unless someone topples it and builds a new nation there, we are going to see El Salvador exceed the life period of ALL its citizens alive today, even the ones that was born today. This means that they could make investments for far further down the road than any of us ever could. This is how they could get rich, and they are aware of it, they are taking a piece of the pie that will stay with them forever, and could make them richer and richer over course of many decades.

[KennyR]

There is absolutely new ideology ringing in my mind, I don't know if another person is thinking same thing.

Firstly, we acknowledge that El Salvador made bitcoin their legal tender, which means bitcoin is their money for saving and also for daily transactions. So, if the country is saving I'm bitcoin which is there legal tender, we should stop seeing it as a mistake or a big deal.
The country or the president per say believes in bitcoin and has made bitcoin their money, so it shouldn't amaze us that they are buying more bitcoin.

El Salvador made bitcoin the legal tender, but there is no big acceptance and usage as the president expected. Periodically surveys have been taken place. According to those survey, El Salvador people are very less into cryptocurrency usage, majority have spend the amount provided through the Chivo Wallet and stopped using bitcoin. Maybe this too can be the reason why El Salvador President is interested in buying more bitcoin as the citizens weren't holding their funds in terms of bitcoin.