*El Salvador To Start Purchasing Bitcoin Everyday*

[tabas]

In short, El Salvador is going to DCA - EVERYDAY. 
Well, an act like this will be copied by other investors that are unsure of the market and haven't experienced the past bear markets. Looking at huge people like Bukele and other popular investors broadcasting their move about buying bitcoin. It's the encouragement that they're looking for so, I honestly think that it's a good idea that he has said this vocally on his Twitter account for others to have a reference on what they must do right now.

[Sanitough]

Once you get into crypto, you will be addicted to crypto. And this is probably what happens to Nayib.
He bought when the price was at $50K+, it shouldn't be surprising for Nayib to be more bullish. It's a good time for DCAing even if the price is dumped to $13k, there were users who said we're up to go bull run after 5-6 months.

But he will have the last laugh when the bull run comes very early.

Nayib is just like any ordinary addict that keeps on chasing on his addiction, but good thing his addiction in bitcoin will never benefit only himself but eventually all the people in his country. So I believe everything Nayib does in this bearish season, it’s a well planned from the start. And yes, when everything is perfect with bitcoin, El Salvador will be the first country to rejoice because of the billions of profits probably they will surely gain.

[aoluain]

He is the president of the country and he does not buy Bitcoin with his own money, and the loss you are talking about is not his personal loss, but the loss of all the people who fill the budget of that country. It's easy to be a true believer if you're gambling with other people's money, right?

It's not a gamble, it is just bitcoin and that makes it controversial. Otherwise anywhere you look the governments look like big gamblers and all of them have been driving their economies into the ground. In US the FED keeps manipulating the interest rates and causes recession, in EU they keep printing more money and decreasing the exchange rate while increasing the inflation, ... but when it is bitcoin then all of a sudden we see articles like this

I like this - we shouldn't nit-pick all his decisions regarding Bitcoin, he on behalf of El Salvador
is investing in Bitcoin and is buying, not selling, it's all positive. At a time when governments
and central banks are playing things to suit themselves and trying to mend the mistakes
they have made in the not so distant past, Bukele is still bullish on Bitcoin.

The only thing I find a bit questionable that it's only going to be 1 Bitcoin per day, I would
have thought they could buy more but yea they are not the most financially stable of countries.

[romero121]

Once you get into crypto, you will be addicted to crypto. And this is probably what happens to Nayib.
He bought when the price was at $50K+, it shouldn't be surprising for Nayib to be more bullish. It's a good time for DCAing even if the price is dumped to $13k, there were users who said we're up to go bull run after 5-6 months.

But he will have the last laugh when the bull run comes very early.

Nayib is just like any ordinary addict that keeps on chasing on his addiction, but good thing his addiction in bitcoin will never benefit only himself but eventually all the people in his country. So I believe everything Nayib does in this bearish season, it’s a well planned from the start. And yes, when everything is perfect with bitcoin, El Salvador will be the first country to rejoice because of the billions of profits probably they will surely gain.

Anything towards addiction is harmful. In that way we can't consider it to be an addiction. What El Salvador President Nayib Bukele have over bitcoin is the trust. He believes in the growth and this growth is beneficial for everyone. Investing 1BTC everyday is a good thing. Unlike the market going for regular buying makes it to be more interesting. Even now someone will make criticism over the decision, which he never minds as he holds the trust over bitcoin in all situations which is the best thing out of him.

[glendall]

one of the good news , I've read it and this motivates me and people who are still afraid of the effects of the FTX problem, elsavador took a good step to raise btc from an early age so that when the bulls come at the beginning they can get profits

[Taskford]

Investors were hesitant to make investments in the cryptocurrency world as a result of multiple projects failing and the market fall. A significant Bitcoin bull maintained optimism even as reports of Bitcoin's collapse spread. El Salvador's decision to accept Bitcoin as legal tender shocked the entire world. El Salvador wanted to boost their holdings despite the asset falling below $16,000.

The FTX saga caused bitcoin to drop to a 2-year low. In the midst of all of this, El Salvador's president just tweeted that his nation would begin purchasing one Bitcoin each day starting from tomorrow.

See link to picture of the tweet: https://imgur.com/a/abjzArX

Source: https://watcher.guru/news/el-salvador-to-start-buying-bitcoin-every-day-from-tomorrow

That's good reaction by an investor who knows things about possible recovery to happen and its good to see how El Salvador president reacts to current condition because for sure once we see a great recovery they can recover their past losses but as well they cam get a big earnings for their country. Good to know that they still have a trust on bitcoin despite of the dumps happen on it and for sure in future all their efforts made will be paid.

[onecall123]

Investors were hesitant to make investments in the cryptocurrency world as a result of multiple projects failing and the market fall. A significant Bitcoin bull maintained optimism even as reports of Bitcoin's collapse spread. El Salvador's decision to accept Bitcoin as legal tender shocked the entire world. El Salvador wanted to boost their holdings despite the asset falling below $16,000.

The FTX saga caused bitcoin to drop to a 2-year low. In the midst of all of this, El Salvador's president just tweeted that his nation would begin purchasing one Bitcoin each day starting from tomorrow.

See link to picture of the tweet: https://imgur.com/a/abjzArX

Source: https://watcher.guru/news/el-salvador-to-start-buying-bitcoin-every-day-from-tomorrow

A bill was passed by El Salvador's president to make Bitcoin legal tender, so such a move is quite common. There are those who understand his decision, and there are some who do not; but the President of El Salvador has already made up his mind. They still have a trust in bitcoin despite the 2-year low, no matter what the rest of the world says. His visionary mind may inspire him to keep investing as opportunities await. After adopting Bitcoin as legal tender, Bitcoin has proven to be beneficial for economies.

[worle1bm]

That's great way of utilising the investment fund like by investing daily in bitcoin but I would say if they have reserve fund and plans to hold it for long term they should invest one big amount at these discounted price which they can do so because they might not get another opportunity to accumulate more bitcoins at these prices in future.But yes if they are planning to go with DCA method then also it's good option because they are making the move.

[RAppleby]

It is correct to buy Bitcoin now, although it may be in a bear market for some time to come. As we enter the bull market, some people will regret not buying bitcoin now. This is a show of courage.

[posi]

Once you get into crypto, you will be addicted to crypto. And this is probably what happens to Nayib.
He bought when the price was at $50K+, it shouldn't be surprising for Nayib to be more bullish. It's a good time for DCAing even if the price is dumped to $13k, there were users who said we're up to go bull run after 5-6 months.

But he will have the last laugh when the bull run comes very early.

Nayib is just like any ordinary addict that keeps on chasing on his addiction, but good thing his addiction in bitcoin will never benefit only himself but eventually all the people in his country. So I believe everything Nayib does in this bearish season, it’s a well planned from the start. And yes, when everything is perfect with bitcoin, El Salvador will be the first country to rejoice because of the billions of profits probably they will surely gain.

Anything towards addiction is harmful. In that way we can't consider it to be an addiction. What El Salvador President Nayib Bukele have over bitcoin is the trust. He believes in the growth and this growth is beneficial for everyone. Investing 1BTC everyday is a good thing. Unlike the market going for regular buying makes it to be more interesting. Even now someone will make criticism over the decision, which he never minds as he holds the trust over bitcoin in all situations which is the best thing out of him.

Haha, yes this is not an addiction, addiction is a harmful symptom when you love something and spend too much money on it without any benefit to you. For bitcoin, he is investing in the future of his country and he chooses bitcoin because he knows that it is the future of the world.

Although facing stiff opposition from other countries, it is admirable that he ignored all and continued with his choice. Maybe bitcoin will not make El Salvador rich, but at least it will help them get rid of their dependence on the dollar and open up a different future for them.

[NotATether]

That means 365 bitcoin in a year, or about 730 before the next halvening really kicks in.

Assuming an average buying price of $20K for each coin bought, that means he's putting in over $70 million of additional Bitcoin that is expected to appreciate in profits.

I am curious to know what is the total bitcoin reserves of El Salvador, because a few 10s of millions of dollars capital gain isn't going to help any government much.

[Lucius]

He is the president of the country and he does not buy Bitcoin with his own money, and the loss you are talking about is not his personal loss, but the loss of all the people who fill the budget of that country. It's easy to be a true believer if you're gambling with other people's money, right?

Everyone ignores this, he is not playing with his money, he is using government funds without asking anyone else, is not asking the citizens of Salvador, he is doing everything in their name with their money. But of course, everything is good here because it fits the narrative, if he would do the other thing, like selling the coins one at a day, despite being entitled to do so because it's their coins you will hear everyone bashing him like there is no tomorrow.

This is fine, just like SBF giving a ton of money which was obviously not his left and right, and getting cheered about his generosity was a smart move accepted by the community. And now if we would go one step further and ask our dear Bukele about some proof of funds just as we ask exchanges, again, crickets!
Let's wait and see if Christmas will come before another hero gets caught in another web of lies, let's see who that is.

I have written several times and posted a link that explains in detail how Bitcoin came to that country, and just a few weeks before Bukele almost concluded an agreement with some completely different people, and an altcoin was supposed to become a legal tender in that country. According to everything that can be read, he did not change his mind because Bitcoin is better, but because more powerful players came and bought his trust.

Of course, no one cares what happened and what is happening now in the background, because that can spoil a nice story about a country where Bitcoin is legal tender and you can pay for everything (allegedly) with Bitcoin, although research shows that this is not the case.

[Antonas1]

No time limit? And what if tomorrow the price is $30K, will they still be buying every day? Bukele are running a tactic.
I'm prejudiced, looks like he has already bought a lot from a few weeks/months ago and just waiting for the bull run. He tweeted to make it look like there was an "oasis" and people rushed to buy so the price goes up soon this year, going to $30K at least. Sell and buy again when the correction comes. Let's see how far it goes.

[hZti]

That means 365 bitcoin in a year, or about 730 before the next halvening really kicks in.

Assuming an average buying price of $20K for each coin bought, that means he's putting in over $70 million of additional Bitcoin that is expected to appreciate in profits.

I am curious to know what is the total bitcoin reserves of El Salvador, because a few 10s of millions of dollars capital gain isn't going to help any government much.

This was my thoughts also, since it is a nice symbolic gesture but for a country it is more or less not even on the balance sheets. If you consider how many people live in El Salvador, they are basically investing a few cents per person with every bitcoin they buy. Still they send a good signal to the markets which I like.

[GiftedMAN]

I think Nayib bukele has done the right thing if he starts buying at the current price. And Tweets from Nayib bukele always steal a lot of attention. Even now the tweet has spread to almost all crypto telegram channels. And it seems that Nayib bukele is not the only one who will buy 1 bitcoin every day starting tomorrow. because I saw Justin sun replying to Nayib's tweet. and Justin sun also said he would do the same thing. i.e. buy 1 bitcoin every day starting tomorrow. I think this is still included in the DCA category.



and the conversation around El salvador and Nayib bukele actually continues on the topic El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻.

Nayib's action to buy bitcoin every day is a good move because buying at the current price of $16k right now and a lower amount which we may likely experience before the end of the year according to some charts will give him the double amount of his purchasing capital when we hit the bull run in 2023 hopefully. One thing to note about Nayib's tweet is that it will motivate a lot of people bitcoin believers who have been cold to continue investing in bitcoin due to the fear of lost of funds which may be experienced due to the current price, I believe more people will join the bold step of Nayib to buy more bitcoin including me because I don't want to miss out during the next bull run.

[Ale88]

Usually every time ES and its president say they are going to buy bitcoin, or they announce that they already bought it, the price goes down, so I really hope that from now on we won't have a new ATL every single day after their purchase 

[DdmrDdmr]

<…> I am curious to know what is the total bitcoin reserves of El Salvador, because a few 10s of millions of dollars capital gain isn't going to help any government much.

Including today’s alleged 1 BTC purchase, 2382 BTCs so far, according to Nayib Tracker. That matches other totals I have from other sources, so it seems correct, and the site is visually appealing to track these purchases.

What will differ from one source of tracking to another is the cost price per purchase, since we don’t have and exact date/time to pinpoint each purchase. If no precise information is provided for a given purchase, this site uses the average market price for the day the purchase was made on, using data pulled from blockchain.com. Cost is therefore an estimate.

Note: We have to exercise and act of faith (lacking any real additional transparency on the matter) that all the purchases are still in control of El Salvador.

[Vaculin]

Shouldn't really be a big deal. They're pretty much just moving from buying dips, to sort of like dollar-cost averaging(obviously not exactly DCA, but slightly similar). Which they should've done in the first place instead of trying to timing prices.

Yes, its not a big deal anymore as El Salvador has been buying a lot of bitcoin already even when the market is still not in dip. So if they will start accumulating more bitcoin these days, i think that will be a lot better because they can certainly increase their purchase that will be a lot more advantageous when the market suddenly turns bullish. When everyone else in the crypto market will celebrate, for sure El Salvador is on top on it.

[Xxmodded]

No time limit? And what if tomorrow the price is $30K, will they still be buying every day? Bukele are running a tactic.
I'm prejudiced, looks like he has already bought a lot from a few weeks/months ago and just waiting for the bull run. He tweeted to make it look like there was an "oasis" and people rushed to buy so the price goes up soon this year, going to $30K at least. Sell and buy again when the correction comes. Let's see how far it goes.

I don't think with Bukele is trader with selling Bitcoin when reaching higher price maybe $30,000 based on with how many Bitcoin assets still hold, he has priority keep holding and make Bitcoin bigger investment assets in the future and right now effective purchase or invest with 1 Bitcoin every day. True or not with Bukele have purchased when Bitcoin in dip price I think he keeps hold until Bitcoin reach most highest price than last all time high price.
He has consistency keep holding Bitcoin for long term and not like with daily day trading just earn few percent profit only, he will tries how long can hold and invest with Bitcoin until reach highest price not stuck on $30,000 only but also he want to see Bitcoin above previous all time high price.

[KingsDen]

Shouldn't really be a big deal. They're pretty much just moving from buying dips, to sort of like dollar-cost averaging(obviously not exactly DCA, but slightly similar). Which they should've done in the first place instead of trying to timing prices.

Yes, its not a big deal anymore as El Salvador has been buying a lot of bitcoin already even when the market is still not in dip. So if they will start accumulating more bitcoin these days, i think that will be a lot better because they can certainly increase their purchase that will be a lot more advantageous when the market suddenly turns bullish. When everyone else in the crypto market will celebrate, for sure El Salvador is on top on it.

This is just the opportunity for El Salvador to cover up their accumulative losses, such that when bitcoin gets bullish they will run into massive profits. We should not forget that El Salvador got their first bitcoin buy during the last bull run when bitcoin was above $50k. They became the mainstream of criticism when bitcoin crashed, the idea of daily DCA is a good one to accumulate large amount of bitcoin in a less intensive means.

While ordinary people are planning to own 1 BTC for life, there is a country somewhere buying 1 BTC daily, I am afraid that bitcoin will finish o . ThankGod I have secured my own fraction that made me a millionaire in Bitcoin.