*El Salvador To Start Purchasing Bitcoin Everyday*

[lionheart78]

That's a smart move if you ask me, but it takes a lot of courage to embark on such a task considering recent happenings in the crypto world.

I think it doesn't need courage at all especially since the leader of El Salvador is not using his own money to buy BTC.  But I think it is a matter of wisdom.  I really admire El Salvador's leader to have wisdom regarding the Bitcoin investment.  They understand and foresee that the future of Bitcoin is huge.  Among the leaders of the world, they are the only ones who see that Bitcoin is the real thing.

I am sure they are taking advantage of the dip to bag more BTC, and I am certain this will pay off in the nearest future when the price of BTC go bullish.

Yeah while others cower in fear of bankruptcy,  El Salvador decides to bag more, and by doing that, they lower their average buy price and accumulate more BTC holdings which can be a game changer in their economy.

[1715556434]

1715556434

[Viscore]

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.

El Salvador has its own goal to maximize their bitcoin purchase so this bear season is the perfect timing to start buying on a large scale. Whether they do it using DCA, that will still be at their own advantage since they will also reap their fruits of labor when the bullish market takes over. While others do the opposite timing in buying, El Salvador still manage to purchase everyday using their huge funds.

[Hypnosis00]

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.

El Salvador has its own goal to maximize their bitcoin purchase so this bear season is the perfect timing to start buying on a large scale. Whether they do it using DCA, that will still be at their own advantage since they will also reap their fruits of labor when the bullish market takes over. While others do the opposite timing in buying, El Salvador still manage to purchase everyday using their huge funds.

The president never just looks at today's investment situation but at the future. He thinks that what he did will contribute to huge changes in their country which I see not all have seen and appreciated. He is not just a casual investor but a wise person who thinks about the benefits the country would get after buying and securing Bitcoin while the price is cheap. Some people say "El Salvador will become rich in the future due to spending more funds in Bitcoin", which is really possible.

[Trouvaille]

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.

El Salvador has its own goal to maximize their bitcoin purchase so this bear season is the perfect timing to start buying on a large scale. Whether they do it using DCA, that will still be at their own advantage since they will also reap their fruits of labor when the bullish market takes over. While others do the opposite timing in buying, El Salvador still manage to purchase everyday using their huge funds.

The president never just looks at today's investment situation but at the future. He thinks that what he did will contribute to huge changes in their country which I see not all have seen and appreciated. He is not just a casual investor but a wise person who thinks about the benefits the country would get after buying and securing Bitcoin while the price is cheap. Some people say "El Salvador will become rich in the future due to spending more funds in Bitcoin", which is really possible.

This major move by the president of El Salvador to buy one bitcoin per day shows his firm belief in bitcoin, targeting its long-term potential and starting to accumulate. It is a good idea to invest in bitcoin accumulation in a bear market, when the bitcoin price starts to rise, their whole country will benefit and bring considerable changes to their country.

[Victorik]

That's a smart move if you ask me, but it takes a lot of courage to embark on such a task considering recent happenings in the crypto world.

I am sure they are taking advantage of the dip to bag more BTC, and I am certain this will pay off in the nearest future when the price of BTC go bullish.

Yeah while others cower in fear of bankruptcy,  El Salvador decides to bag more, and by doing that, they lower their average buy price and accumulate more BTC holdings which can be a game changer in their economy.

I think it doesn't need courage at all especially since the leader of El Salvador is not using his own money to buy BTC.  But I think it is a matter of wisdom.  I really admire El Salvador's leader to have wisdom regarding the Bitcoin investment.  They understand and foresee that the future of Bitcoin is huge.  Among the leaders of the world, they are the only ones who see that Bitcoin is the real thing.

Investing with other people's money require more courage. If it was personal funds he was using, he probably will bear the gains and the losses on his own. But right now,.he is using the common wealth of the citizens of his country to invest in what not everyone believes in. That to me is a huge risk and requires a lot of guy.

[Antonas1]

~

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. ~

I don't think so. March 23, 2024 is the next bitcoin halving. If Bukele buys 1 BTC every day from November 18, 2022 until March 23, 2024, then he has 461 BTC.
So let's assume BTC hits $100K as people want. If Bukele sells them all (excluding the 2382 BTC that DdmrDdmr mentioned) then he has 46.1 million dollars.

I know nothing about economics, but I try to think in an easy way, if the $46.1 million were distributed to the 6,568,745 people (2022 population - wikipedia est.), each person would only get about $7,018083363. It's not as profitable compared to increasing the amount of BTC through trade.
Please correct me.

[TheGreatPython]

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.

$30k was still a dumped price. Remember our last ATH was $69k but even if it goes back there, El Salvador still has the capacity of buying it because the government has a lot of funds in them. You are right, they already bought a lot because it's been a long time since they started adopting btc in their country.

If you and me are waiting for the main event which is the bull run then why not them? They are also a human like us that wants to earn a profit and that is why they invest on it at the first place but the money that they will earn won't be used personally but it will be used to improve their country more. The moves that they are doing can encouraged other people to do the same but isn't that great? Many wishes that there's a big increase that will happen this year.

[virasog]

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.

Not only El Salvador but many other investors, governments, institutions, and investors are buying and accumulating bitcoin in this dip.
It is only the retailers who do not buy in these times. How sad is that only the common man is fearful at this time and waiting for more low prices. This fear and greed index is being wrongly used by most people. In fearful times, we should our bags while in greedy times we should sell, but it happens otherwise. 

[eightdots]

In fact, many companies and governments buy Bitcoin. Only El Salvador does this publicly. I appreciate. We've all seen some big companies announce that they own Bitcoin when Bitcoin reaches high values. We will see again. They're doing what they're supposed to do right now and they're getting Bitcoin. These companies are long-term investors. Some are lowering the averages of the prices of the Bitcoins they bought on time. Both El Salvador and companies that buy Bitcoin secretly are investing in the future.

[n0ne]

In fact, many companies and governments buy Bitcoin. Only El Salvador does this publicly. I appreciate. We've all seen some big companies announce that they own Bitcoin when Bitcoin reaches high values. We will see again. They're doing what they're supposed to do right now and they're getting Bitcoin. These companies are long-term investors. Some are lowering the averages of the prices of the Bitcoins they bought on time. Both El Salvador and companies that buy Bitcoin secretly are investing in the future.

Very few have the courage to stay transparent with the plans and execution. El Salvador does it in a fair way. The prime focus of the country is to buy as much and make it the country's reserve. The country have come into criticism, because they revealed it to the outer world. As many companies do, they could've done it confidential. Someone could've stolen the show, now they've made history and will make the history stronger making other countries follow their footsteps.

[borovichok]

In fact, many companies and governments buy Bitcoin. Only El Salvador does this publicly. I appreciate. We've all seen some big companies announce that they own Bitcoin when Bitcoin reaches high values. We will see again. They're doing what they're supposed to do right now and they're getting Bitcoin. These companies are long-term investors. Some are lowering the averages of the prices of the Bitcoins they bought on time. Both El Salvador and companies that buy Bitcoin secretly are investing in the future.

El Salvador is one of the fastest growing country when it comes to accepting Bitcoin as means of payment. They're growing rapidly and it's been discreet because most countries are not well highlighten on the operation of bitcoin ecosystem. There are countless companies in El Salvador that have hugh quantities of Bitcoin and they will keep it for a lengthy period of time inother to gain more profits in the nearest future. Investing in Bitcoin now that it's in serious dump will be one of the most ultimate target for companies and they take good advantage of it.

[milewilda]

In fact, many companies and governments buy Bitcoin. Only El Salvador does this publicly. I appreciate. We've all seen some big companies announce that they own Bitcoin when Bitcoin reaches high values. We will see again. They're doing what they're supposed to do right now and they're getting Bitcoin. These companies are long-term investors. Some are lowering the averages of the prices of the Bitcoins they bought on time. Both El Salvador and companies that buy Bitcoin secretly are investing in the future.

Indeed, but do not compare companies to a country, it is more unusual these days that a certain country is now focusing to buy bitcoin even the market is falling, when the time comes that bitcoin bounce back from its price today, that would great and El Salvador will not regret anything but instead they will become an example to other country who doesn't support bitcoin.

As a President then making out these kind of decisions which would really be requiring that approval since this isnt his money been using for it to be invested on Bitcoin.
For sure there would really be lots of critics in regarding on what he had done.Some might really be that supportive in regarding on the step that he had done
but for sure there are lots of criticisms in regarding on this decision.Well, its impossible that he doesnt know about the risk.As long he do his job well
and its citizens do agree nor doesnt reject on what he currently doing then so be it.

[Antonas1]

~

$30k was still a dumped price. Remember our last ATH was $69k but even if it goes back there, El Salvador still has the capacity of buying it because the government has a lot of funds in them. You are right, they already bought a lot because it's been a long time since they started adopting btc in their country.

If BTC returns to $69K, I believe Bukele will sell it, then wait for a price correction to buy back.

If you and me are waiting for the main event which is the bull run then why not them? They are also a human like us that wants to earn a profit and that is why they invest on it at the first place but the money that they will earn won't be used personally but it will be used to improve their country more. The moves that they are doing can encouraged other people to do the same but isn't that great? Many wishes that there's a big increase that will happen this year.

Of course, I just don't believe Bukele keeps buying Bitcoins without a time limit, that means he'll never sell them, and it is impossible.