El Salvador: The Most Profitable Country on Bitcoin Investment

[MusaMohamed]

I guess El Salvador needed the money (USD). It seems like Bitcoin wasn't enough to help the country get out of debt. This deal with the IMF is one step backwards to what Bukele originally envisioned when he first made BTC legal tender. By turning down the "Chivo" wallet, adoption for Bitcoin in the country will diminish.

It's their national investment in Bitcoin and it's good for their investment with very good ROI after about 4 years. Their investment ROI is 115% now.
https://nayibtracker.com/

If they have need of money to handle things for their country, they can take profit. It's good for them too and with Bitcoin market, it's not too bad. In short term Bitcoin market can have panic time when people are fearful of possible down effects from El Salvador taking profit activity and selling pressure, but in long term the market will continue its movement.

It's terrible market if an investor is not allowed to take profit or not welcome to take profit.

Perhaps, it's too early for the world to become "hyperbitcoinized". Fiat currencies are still relevant, despite many countries adding BTC to their portfolio. One would hope things will change within the not-so-distant future. We're living in uncertain times, so expect the unexpected.

I agree, it's too early to achieve "hyperbitcoinized" world but Bitcoin is going toward it.

[tvbcof]

...
If they have need of money to handle things for their country, they can take profit. It's good for them too and with Bitcoin market, it's not too bad. In short term Bitcoin market can have panic time when people are fearful of possible down effects from El Salvador taking profit activity and selling pressure, but in long term the market will continue its movement.

It's terrible market if an investor is not allowed to take profit or not welcome to take profit.

Seems fair, and a good show of mutual confidence and trust, if there were a multi-sig wallet or some kind of smart contract for each citizen such that both the govt and the citizen decide jointly if the citizen's allocated portion is to be broken into.  I mean, in theory the citizens bought it either through taxes, or opportunity costs associated with investment in infrastructure.

I'm not waiting up nights for ANY government, anywhere, ever, to willingly arrange such a thing.  Nor would it probably be good for John Q. Public given that the mainstream propaganda machinery could easily corral 95% of the population into a frame of mind where they would sacrifice their lives in an effort to give their share to the IMF, Blackrock, Musk, etc.  You know; to send them to mars or stop global warming or whatever.

[NotATether]

Imagine if the price of Bitcoin reaches 1 million dollars.

Then El Salvador's investment would reach 3 billion dollars.

Admittedly, a country needs way more than 3 billion dollars to make itself prosperous. Even continued DCA at this point will probably just add like 5-10 billion to the balance sheet eventually.

So we could see the real gains coming out after say 20 years, and then El Salvador and potentially other countries who copy it (starting now) can fix their economies and kick out the IMF.

[john_egbert]

Imagine if the price of Bitcoin reaches 1 million dollars.

Then El Salvador's investment would reach 3 billion dollars.

Admittedly, a country needs way more than 3 billion dollars to make itself prosperous. Even continued DCA at this point will probably just add like 5-10 billion to the balance sheet eventually.

So we could see the real gains coming out after say 20 years, and then El Salvador and potentially other countries who copy it (starting now) can fix their economies and kick out the IMF.

If only the IMF wouldn't put their fingers into what others are doing or drop the developments down with the offers of loans being given to smaller countries..
I do think you are right, and in a decade or so, we may see more examples of how others would try to mimic El Sal, especially from the smaller countries.

[Sim_card]

I guess El Salvador needed the money (USD). It seems like Bitcoin wasn't enough to help the country get out of debt. This deal with the IMF is one step backwards to what Bukele originally envisioned when he first made BTC legal tender. By turning down the "Chivo" wallet, adoption for Bitcoin in the country will diminish.

It's their national investment in Bitcoin and it's good for their investment with very good ROI after about 4 years. Their investment ROI is 115% now.
https://nayibtracker.com/

If they have need of money to handle things for their country, they can take profit. It's good for them too and with Bitcoin market, it's not too bad. In short term Bitcoin market can have panic time when people are fearful of possible down effects from El Salvador taking profit activity and selling pressure, but in long term the market will continue its movement.

It's terrible market if an investor is not allowed to take profit or not welcome to take profit.

I think Bukele is a wise president and knows the importance of hodling bitcoin. He is using bitcoin as the country reserve which means that such funds shouldn't be tampered with or sell part of it. El Salvador has also bought 11btc, which is over $1M a day after finalizing the loan of 1.4B from IMF. El Salvador is still hoarding their bitcoin and increasing the size overtime. Because he knows that the size of their bitcoin in future can transform the country's poor state. El Salvador is not a country that is bigger than taking loans from IMF to develop the country because they are only buying bitcoin and needs funds for other projects that can generate money for the country.

[Swordsoffreedom]

I guess El Salvador needed the money (USD). It seems like Bitcoin wasn't enough to help the country get out of debt. This deal with the IMF is one step backwards to what Bukele originally envisioned when he first made BTC legal tender. By turning down the "Chivo" wallet, adoption for Bitcoin in the country will diminish.

It's their national investment in Bitcoin and it's good for their investment with very good ROI after about 4 years. Their investment ROI is 115% now.
https://nayibtracker.com/

If they have need of money to handle things for their country, they can take profit. It's good for them too and with Bitcoin market, it's not too bad. In short term Bitcoin market can have panic time when people are fearful of possible down effects from El Salvador taking profit activity and selling pressure, but in long term the market will continue its movement.

It's terrible market if an investor is not allowed to take profit or not welcome to take profit.

Their loan from the IMF is worth $3.5 billion while the bitcoin they hold is worth just under $600 million. So selling all the bitcoins doesn't solve much of a problem for them and I think they made the right decision not to sell.

We need to be realistic, investing in bitcoin will bring significant profits but to solve the problems of an country's economy, we need more than just bitcoin. So, this may be a step back in using bitcoin as a currency but the national economy is more important than anything. We should not blame Nayib Bukele because as president, he must prioritize the economy and the lives of his people.

[hero_the_bossman]

Their loan from the IMF is worth $3.5 billion while the bitcoin they hold is worth just under $600 million. So selling all the bitcoins doesn't solve much of a problem for them and I think they made the right decision not to sell.

We need to be realistic, investing in bitcoin will bring significant profits but to solve the problems of an country's economy, we need more than just bitcoin. So, this may be a step back in using bitcoin as a currency but the national economy is more important than anything. We should not blame Nayib Bukele because as president, he must prioritize the economy and the lives of his people.

Bitcoin is not a magic wand for any country, big or small - it can help a bit in the perspective and move the question of adoption itself, but the more the economy needs to be pushed/changed, the more BTC reserves should be in the perspective.

[kotajikikox]

I guess El Salvador needed the money (USD). It seems like Bitcoin wasn't enough to help the country get out of debt. This deal with the IMF is one step backwards to what Bukele originally envisioned when he first made BTC legal tender. By turning down the "Chivo" wallet, adoption for Bitcoin in the country will diminish.

I do not think the closing of this particular wallet will immediately diminish the progress El Salvador has made into adopting Bitcoin. Bitcoin is still their legal tender after all. It may be a step backward but it is not as bad if we think about it. It is not like this particular wallet is widely used by everyone in the world. I would be concerned if they decided to ban a wallet or exchange being used by many around the world. This seems to be a small price to pay for the money they will be getting.

Perhaps, it's too early for the world to become "hyperbitcoinized". Fiat currencies are still relevant, despite many countries adding BTC to their portfolio. One would hope things will change within the not-so-distant future. We're living in uncertain times, so expect the unexpected.

Of course fiat is still relevant. But we are still making good progress and El Salvador has been proof of that. There should be patience. The country bought bitcoin in hopes of fixing their country's economy and they can't afford to make their own terms unlike other big countries like USA maybe for example.

[betswift]

I guess El Salvador needed the money (USD). It seems like Bitcoin wasn't enough to help the country get out of debt. This deal with the IMF is one step backwards to what Bukele originally envisioned when he first made BTC legal tender. By turning down the "Chivo" wallet, adoption for Bitcoin in the country will diminish.

I do not think the closing of this particular wallet will immediately diminish the progress El Salvador has made into adopting Bitcoin. Bitcoin is still their legal tender after all. It may be a step backward but it is not as bad if we think about it. It is not like this particular wallet is widely used by everyone in the world. I would be concerned if they decided to ban a wallet or exchange being used by many around the world. This seems to be a small price to pay for the money they will be getting.

After all, El Sal does what is in their best interest. For their country, not BTC itself.
Step backward - and then two steps forward.
Slowly and steadily.

[GigaBit]

Bukele is regularly depositing 1 Bitcoin and storing it in a cold wallet also proves that he certainly has a long-term vision for Bitcoin, we can see like from Michael Saylor's perspective.

His visionary leadership has enabled the country to become a paradise for Bitcoin. If he keeps Bitcoin as the reserve currency of his country by doing DCA, then his country will definitely be much more profitable, especially after the next 20 years, his country will get a huge wealth of Bitcoin. If there is proper leadership in the development of the country, then that country will definitely develop.

If Bitcoin can be purchased using the country's reserve currency, I think this is a big opportunity for them. Gradually, the governments of the country are starting to come and in the future, El Salvador will be ahead of other countries in Bitcoin investment. After the next 1 or 2 decades, their country will go far ahead from its current position through Bitcoin holding.

[rodskee]

Bukele is regularly depositing 1 Bitcoin and storing it in a cold wallet also proves that he certainly has a long-term vision for Bitcoin, we can see like from Michael Saylor's perspective.

they both seem to have an unwavering desire for buying more bitcoin no matter the circumstances. the only difference between them is Michael Saylor is doing this for his company and himself alone while Bukele has an entire country counting on him and his decisions regarding bitcoin i hope it all works out for them and they are able to take advantage of bitcoin at the best possible ways and use the profit for the betterment of their country.

If Bitcoin can be purchased using the country's reserve currency, I think this is a big opportunity for them. Gradually, the governments of the country are starting to come and in the future, El Salvador will be ahead of other countries in Bitcoin investment. After the next 1 or 2 decades, their country will go far ahead from its current position through Bitcoin holding.

they are already ahead of many countries. Look at countries now still discussing whether to lift their bans or restrictions on crypto while El Salvador has already bought a lot even before bitcoin reached $100k if they also focus on bitcoin mining that is another way for them to take advantage of bitcoin.

[john_egbert]

Bukele is regularly depositing 1 Bitcoin and storing it in a cold wallet also proves that he certainly has a long-term vision for Bitcoin, we can see like from Michael Saylor's perspective.

they both seem to have an unwavering desire for buying more bitcoin no matter the circumstances. the only difference between them is Michael Saylor is doing this for his company and himself alone while Bukele has an entire country counting on him and his decisions regarding bitcoin i hope it all works out for them and they are able to take advantage of bitcoin at the best possible ways and use the profit for the betterment of their country.

MS is a Bitcoin-related company through and through. An entity that stands on its two with Bitcoin.
And El Sal - clearly, as you said, not that. it's not a company nor its roots are in Bitcoin.
So they may use it to their own extent, but they won't put all of their faith into it, and people shouldn't too.

[Oluwa-btc]

Nayib Bukele jump in the right time, he bought Bitcoin when Bitcoin was cheap, he might have been studying the market from few years ago, so he know when to buy Bitcoin.

I disagree if developing countries should buy Bitcoin to change improve their financial, the biggest problem in developing countries is corruption, even the country made 1,000% profit, they wouldn't distribute all the profit, they might only distribute 1% to the public.

Totally,the decision was completely made at the right time.They've been able to manage and improve their financial system EverSince they said yes to Bitcoin's adoption.The leadership position for a developing country like El Salvador to intentionally embark on a positive approach towards financial freedom,stress free currency and even transparency is indeed one to acknowledge and be proud of.

[MarjorieZimmermanGinger]

Just imagine what that kind of profit could do to improve their country. I think other nations, especially developing ones, should start considering following El Salvador’s lead when it comes to Bitcoin investment. It could improve their economies, it should be a game- changer.

Taking risks can sometimes lead to something really amazing and El Salvador has proven that to the world by being able to reap huge profits from bitcoin and this is a result of the courage of their president. Not many countries have dared to follow El Salvador’s lead because they may have been limited by the regulations that existed before that made it impossible to take the same approach as them. But from what El Salvador has shown itself, it should be a consideration for most other countries to make bitcoin a strategic move because now it has been proven by them to the best of their ability.

[Ale88]

With the current bull run, one country has benefited significantly - El Salvador. They started accumulating Bitcoin well before this bull run, and as recently reported, they’ve already gained more than 100% on their investment.

Just imagine what that kind of profit could do to improve their country. I think other nations, especially developing ones, should start considering following El Salvador’s lead when it comes to Bitcoin investment. It could improve their economies, it should be a game- changer.

For sure I hope as well that other countries, especially those that are in the developing phase, will follow his example but at the same time they only (theoretically since they're still holding) made a $300M profit which of course for a single person would be life-changing money but for a whole country it's not that much. Maybe when they'll have a couple of billions profit we can actually talk about serious improvements for the country.

[moneystery]

....

We need to be realistic, investing in bitcoin will bring significant profits but to solve the problems of an country's economy, we need more than just bitcoin. So, this may be a step back in using bitcoin as a currency but the national economy is more important than anything. We should not blame Nayib Bukele because as president, he must prioritize the economy and the lives of his people.

I agree with what you said that the bitcoin investment made by the El Salvador government has not been able to fully solve their complex economic problems. So El Salvador's current decision to only invest in bitcoin periodically and hold it is the right decision as a step for them to be able to help their economy in the future, and at the same time a step to mitigate the risk of bitcoin investment and maintain their economic stability. They are on the right track now and I am sure that they already have a long-term plan to increase the amount of their bitcoin investment.

[tottong]

I agree with what you said that the bitcoin investment made by the El Salvador government has not been able to fully solve their complex economic problems. So El Salvador's current decision to only invest in bitcoin periodically and hold it is the right decision as a step for them to be able to help their economy in the future, and at the same time a step to mitigate the risk of bitcoin investment and maintain their economic stability. They are on the right track now and I am sure that they already have a long-term plan to increase the amount of their bitcoin investment.

By making that much profit in bitcoin, El Salvador has been able to get out of the unstable economic pressure and it can be said that they are solving the problem very well now.
This also shows that the country's economic strength is getting better with the efforts made by Nayib Bukele and other sectors are also increasing where they encourage foreign investors to enter their country.
What El Salvador is doing is a step forward and makes their country's economy stronger and it is evident how the country is starting to show strength that provides better financial capabilities.

There are many efforts that may be considered quite risky, but the strong belief that El Salvador has carried out has opened the eyes of world leaders, where now many country leaders are starting to consider forming a strategic Bitcoin reserve.

[Abiky]

Taking risks can sometimes lead to something really amazing and El Salvador has proven that to the world by being able to reap huge profits from bitcoin and this is a result of the courage of their president. Not many countries have dared to follow El Salvador’s lead because they may have been limited by the regulations that existed before that made it impossible to take the same approach as them. But from what El Salvador has shown itself, it should be a consideration for most other countries to make bitcoin a strategic move because now it has been proven by them to the best of their ability.

El Salvador was the one country that started it all. If it wasn't because of El Salvador, other countries wouldn't be taking about adding BTC to their reserves by now. It's all thanks to President Nayib Bukele. He really sees the future in Bitcoin. If adoption for BTC continues to grow within El Salvador, it's likely other countries (particularly developing countries) will follow its footsteps.

Would you imagine BTC being a legal tender currency in China, Argentina, Russia, and even Venezuela? That would be mind-blowing. This will lead us one step closer towards the demise of Fiat. At least, that's the dream. The more valuable BTC gets, the closer El Salvador will be towards becoming a rich and developed country. Countries that are currently developed (like the US and UK) will become even richer than ever. "Fix the money, fix the world". Right?

[betswift]

....

We need to be realistic, investing in bitcoin will bring significant profits but to solve the problems of an country's economy, we need more than just bitcoin. So, this may be a step back in using bitcoin as a currency but the national economy is more important than anything. We should not blame Nayib Bukele because as president, he must prioritize the economy and the lives of his people.

I agree with what you said that the bitcoin investment made by the El Salvador government has not been able to fully solve their complex economic problems. So El Salvador's current decision to only invest in bitcoin periodically and hold it is the right decision as a step for them to be able to help their economy in the future, and at the same time a step to mitigate the risk of bitcoin investment and maintain their economic stability. They are on the right track now and I am sure that they already have a long-term plan to increase the amount of their bitcoin investment.

They are up and they know what they are doing.
Bitcoin is no magic wand - it's a tool in that case like all the others, and it should be used appropriately for it to not to leave burns where it was used in the economy.