El-salvador bitcoin investment is underwater

[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.

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.

Ýes, I read that many of them spent the $30 and never used the Chivo wallet or bitcoin again. It is expected though because not everyone of them would be interested in bitcoin.

Bur then, for El Salvador to succeed in bitcoin, they should learn to use it as transaction and maybe use the LN as well.

If Bukele actually bought more bitcoin because his people were not holding, it means he will keep buying. Was there an express information or order that everyone should hold their $30 in chivo wallet?

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[yhiaali3]

The government of El Salvador made the right decision based on a thorough economic study. It is certain that the decision to adopt was not the result of emotional feelings for the El Salvador president and his government. They must have studied all the possibilities expected to happen, the first of which is the decline in the price of Bitcoin, the adoption of Bitcoin occurs realistically in the long run and not Based on temporary variables, El Salvador is the first country in the world to adopt Bitcoin, so it is obvious that it will encounter many problems during this experiment, and it is certain that these problems will be resolved gradually. It is a bold decision bearing high courage from the El Salvadorian president and government.

[Abiky]

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.

If every bitcoiner did that, things would been different. But most people are only into Bitcoin thinking about its price in Fiat terms, so they will sell in order to prevent further losses in the short term. I think El Salvador is on a path towards becoming a wealthy nation. But it will only happen if BTC to reaches a new All-time-high in price.

We need as much countries into the Bitcoin train in order to accelerate "hyperbitcoinization" as much as possible. The more Fiat loses traction because of inflation, the better it'll be for Bitcoin in the long run. Who knows if El Salvador ends up ditching USD completely in favor of Bitcoin? Just my thoughts

[Newlifebtc]

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 current price of Bitcoin is making people not to understand their way about cryptocurrency. People is now afraid of investing for Bitcoin because of the long time of bearish market but the way we are seeing the slow movement it seems that it is gaining small ground of Bitcoin

[Quippery]

Bitcoin price crashed down for a few months due to a number of factors. One of the biggest and prime factors was the sudden cut off of demand and supply of bitcoin due to the sudden hike in inflation, the highest in 40 years, due to the russia-ukraine war. However, now, as we look into the daly price charts, bitcoin has been steadily recovering. The price of bitcoin is around $21.7k, and crypto experts are hoping that BTC will soon be back in its normal range.
I think it is a good move that El-Salvador did not sell its BTC holding, it will prove to be profitable in the long run.