El Salvador Purchase More Bitcoin At $19,000 Each

[Asiska02]

El Salvador continues to benefit from the bear market by using it to its advantage and buying more bitcoin.

Many individuals believe that because El Salvador is a poor country and because utilizing bitcoin as legal cash has little impact on adoption of the currency. If more wealthy nations had adopted it, it would have made more sense for additional nations to do so as well, and acceptance of bitcoin would have spread more quickly and been embraced by more nations.

The government holds significant number of BTC (i.e taxpayers money) and has stocked more now. If these are the reserve and the price doesn’t go up within the possible time they’re hoping so, it can be a big disaster to them. However, I hope they continue to use the USD for everyday transactions and that this is merely a short-term problem. As for adoption among El Salvadorans, I've read that it's not that common; hence, it won't have a significant impact on the majority. But when the price has suddenly dropped like this, it can, of course, deter other nations from adopting.

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[mindrust]

Nayeeb has proven himself to be a real friend of bitcoin. The guy tied his country’s future to bitcoin which takes lots of courage. He indeed believes in the tech and he is not just words. He is putting his (and his countrymen’s) money where his mouth is. A true bitcoin defender and a holder. History will write songs about this man.

[harapan]

Nayeeb has proven himself to be a real friend of bitcoin. The guy tied his country’s future to bitcoin which takes lots of courage. He indeed believes in the tech and he is not just words. He is putting his (and his countrymen’s) money where his mouth is. A true bitcoin defender and a holder. History will write songs about this man.

Okay! Good one I must confess. He's vision for Bitcoin is arguably beyond comparison. Really placed at the top front as he sees so much light from it
So here comes my question, do you consider this act as a good decision ? It's more like putting all eggs in one basket. Quite obvious he must have done he's research but they have faced a huge loss evers since they bought bigger shares.

I am not a Bitcoin critics but do you consider this wise ?

[CryptSafe]

I would say that this man knows and sees the future of Bitcoin. Taking advantage of the dip now is a good strategy at positioning the economy of the country in a good economic boom in less than no time. He has proven himself to be a Bitcoin lover and an advent follower of the Crypto industry. As a pro Crypto nation, I believe the nationals would make good use of this opportunity to fill their bag this bear market while waiting for bull run.
I pray other nations sees the good in blockchain and give it a try allowing their citizens be a part of the industry without any much stringent rules.

[Artemis3]

Looks like this country is destined to be the richest country in the hemisphere...

[sbrys]

Looks like this country is destined to be the richest country in the hemisphere...

Or forced to sell to pay the bills when they need money...

It sounds like they are going all-in in this bet

Markets can stay irrational longer than you can stay solvent. Maybe old lyrics by Keynes but very applicable...

[tjtonmoy]

This is the future, no matter what peoples say about crypto. Smart people will benefit from this kinda market movement. Fools will sell at low. I wanna go to El Salvador

[avikz]

People who are bullish about bitcoin are buying it when the price is heavily discounted. On the other hand, naysayers are selling off. Time will tell who is right but there's no denying that an opportunity period is ongoing. Who wants to stay ahead of the competition, will take the risk and others won't take any action. We have to remember that fortune favors the brave. You can't win if you don't try!

The president of El-Salvador is definitely bullish about bitcoin so he took the right decision to include more bitcoins into the national treasury at a dirt cheap price.

[spectre71]

Doesn't the US dollar still co exist there?

[NdaMk]

Okay! Good one I must confess. He's vision for Bitcoin is arguably beyond comparison. Really placed at the top front as he sees so much light from it
So here comes my question, do you consider this act as a good decision ? It's more like putting all eggs in one basket. Quite obvious he must have done he's research but they have faced a huge loss evers since they bought bigger shares.

I am not a Bitcoin critics but do you consider this wise ?

No business or investment is without risk and what makes successful people more successful is there ability to take risk. He has done his research and believes a lot in bitcoin. Bitcoin is just having its tough time and This isn't the first time, every genuine friend of Btc knows it will bounce back. Only its enemies discourage people about it.

Although my advice is to peach your tent where your confidence lies

[yazher]

Nayeeb has proven himself to be a real friend of bitcoin. The guy tied his country’s future to bitcoin which takes lots of courage. He indeed believes in the tech and he is not just words. He is putting his (and his countrymen’s) money where his mouth is. A true bitcoin defender and a holder. History will write songs about this man.

He's taking some bet here since they both have that huge amount of bitcoins in this current market situation and they have high hopes that it will gonna spike its price in the upcoming months or year. They're not backing out because whenever bitcoins trend in the news about their price, they are one of the main topics since they are the only country that took implementing bitcoins to the next level, and of course, they have their own critics too but that doesn't concern them, they are only focusing on taking advantage with the bearish market.

[Dunamisx]

More profits to be realized, the people were joyful and expectant, they know the benefits on investment while that of bitcoin is an added advantage for them to use, i keep wondering why some people are against the decisions in El-Savador and the tackling of their president, what we all sit to watch happen will eventually turns an amazement in the nearest future for the whole El-Savadoran because their government is going to make an effective opportunity out of bitcoin adoption and the buys its securing.

[ChiBitCTy]

I know the president of El Salvador 🇸🇻 has been getting a lot of shit for legalizing bitcoin as a fiat currency in his country after the recent crash we’ve seen happen, but I believe in the long run this is going to be hugely successful for El Salvador and he will end up being heralded as a hero.

[Nrcewker]

This is indeed a great news to hear.
Thank God Finally someone using this bear market to their full capabilities.
In this bear market, I have always been hearing about people panicking and selling their coins.
But now El Salvador needs to be praised. As they know the true values of Bitcoins, and hence buying as many as possibles.
Bitcoins are a rare coin and limited in supply, so definitely in future the price will rise. Like El Salvador, I would suggest everyone to buy as many Bitcoins as they can.

[tabas]

While the others find it crazy with his decisions of buying bitcoin. But someday, they'll come and see and will tell their sorry about what they've said about this man.
I know it's crazy that his country is part of his decision making but he's trying to prove that someday, this investment and bet that he's making will be worthwhile and beneficial to his country and countrymen.

[Text]

Doesn't the US dollar still co exist there?

The US dollar still exists there, Bitcoin was just added as a legal tender in El Salvador.

Since Bitcoin was approved as a full-fledged currency in their country, its loss has reached nearly $56 million due to the risk of buying digital assets according to Bloomberg's calculations, although it may not sound good they continue to invest coins in the pursuit of a better future when the price starts to rise and earn.

[m2017]

Nayeeb has proven himself to be a real friend of bitcoin. The guy tied his country’s future to bitcoin which takes lots of courage. He indeed believes in the tech and he is not just words. He is putting his (and his countrymen’s) money where his mouth is. A true bitcoin defender and a holder. History will write songs about this man.

I can't say if Nayeeb Bukele is a friend of bitcoin because I don't know that. He tied up the future of his country with bitcoin because they have no other choice. Bitcoin for El Salvador as a magical booster, which in the future may allow them to get into the "big leagues". Now, the El Salvador doesn't represent anything at the world level and is far behind the developed countries in terms of economy, technology, natural or intellectual resources. It must be admitted that El Salvador has little to offer to other countries. But thanks to bitcoin, everything can change for this country in the future, and therefore, Nayeeb Bukele actively accumulates bitcoin.

[Cryptmuster]

I can't say if Nayeeb Bukele is a friend of bitcoin because I don't know that. He tied up the future of his country with bitcoin because they have no other choice. Bitcoin for El Salvador as a magical booster, which in the future may allow them to get into the "big leagues". Now, the El Salvador doesn't represent anything at the world level and is far behind the developed countries in terms of economy, technology, natural or intellectual resources. It must be admitted that El Salvador has little to offer to other countries. But thanks to bitcoin, everything can change for this country in the future, and therefore, Nayeeb Bukele actively accumulates bitcoin.

The question is, can such a poor country, where most citizens live below the poverty line, conduct such experiments? If bitcoin is very expensive in the future, then perhaps this will help the population if this money is not stolen by the government. But imagine the situation, if this experiment fails, then the money that could help the most vulnerable segments of the population will simply disappear...

[romero121]

Nayeeb has proven himself to be a real friend of bitcoin. The guy tied his country’s future to bitcoin which takes lots of courage. He indeed believes in the tech and he is not just words. He is putting his (and his countrymen’s) money where his mouth is. A true bitcoin defender and a holder. History will write songs about this man.

No one has got the courage as Nayeeb Bukele. There were opposition from the countrymen, but he was strong in his decision. Already he had made history with the adoption of bitcoin. With time more country's will start following him. For now it looks like every government around the world is observing the moves of El Salvador.

[famososMuertos]

Hi, OP;
President Bukele is "in the game" the issue/point is that no matter how good intentions he has with bitcoin, he has a term limit and that is where this effort can come crashing down when whoever replaces him does not keep his thinking pro bitcoin.