What happens to $BTC when El Salvador sells their Bitcoin?

[legiteum]

Altcoins are the equivalent of gambling on penny stocks, or worse.

LOL, for some reason this discussion has brought all of the Bitcoin maxis out of the woodwork. That wasn't my intent   .

Lots of non-Bitcoin digital currencies have outperformed Bitcoin over the last few years--and surely many more will going forward. To believe that Bitcoin only possibly thing that can make you money--or that it absolutely positively will always make you more money--is just crazy.

[headingnorth]

Altcoins are the equivalent of gambling on penny stocks, or worse.

LOL, for some reason this discussion has brought all of the Bitcoin maxis out of the woodwork. That wasn't my intent   .

Lots of non-Bitcoin digital currencies have outperformed Bitcoin over the last few years--and surely many more will going forward. To believe that Bitcoin only possibly thing that can make you money--or that it absolutely positively will always make you more money--is just crazy.

What do you expect? You do realize you are asking this question on a bitcoin forum, right?

[aoluain]

Altcoins are the equivalent of gambling on penny stocks, or worse.

LOL, for some reason this discussion has brought all of the Bitcoin maxis out of the woodwork. That wasn't my intent   .

Lots of non-Bitcoin digital currencies have outperformed Bitcoin over the last few years--and surely many more will going forward.

Go on then, list them for us Bitcoin maxis?
I find it hard to believe that wile everyone has been focussing on Bitcoin, ETF's
being approved, Trump looking at adding Bitcoin to the Governments reserves etc.
that there is these unknown assets out performing Bitcoin - you gotta tell Saylor,
he's definitely going to want to know.

Altcoins are the equivalent of gambling on penny stocks, or worse.

LOL, for some reason this discussion has brought all of the Bitcoin maxis out of the woodwork. That wasn't my intent   .

To believe that Bitcoin only possibly thing that can make you money--or that it absolutely positively will always make you more money--is just crazy.

Why is that so hard to believe?
Can you not see what Bitcoin is offering?
Can you not see that its inception Bitcoin has been going up?

[Iranus]

LOL, for some reason this discussion has brought all of the Bitcoin maxis out of the woodwork. That wasn't my intent   .

Lots of non-Bitcoin digital currencies have outperformed Bitcoin over the last few years--and surely many more will going forward.

Go on then, list them for us Bitcoin maxis?
I find it hard to believe that wile everyone has been focussing on Bitcoin, ETF's
being approved, Trump looking at adding Bitcoin to the Governments reserves etc.
that there is these unknown assets out performing Bitcoin - you gotta tell Saylor,
he's definitely going to want to know.

ETH ETF has also been approved, Saylor is not buying ETH but the giant Blackrock is buying ETH daily along with bitcoin and there is no guarantee that Saylor will not buy ETH in the future. Not to mention other altcoins like XRP, SOL, LINK...Their ETFs will be accepted soon and it's just a matter of time.

Trump is proposing bitcoin as a national reserve strategy but his strategy is to make the US the crypto center of the world. But did you know the Trump family owns an altcoin project called World Liberty Financial?
I list these not to prove that they will outperform bitcoin, I just want to say that bitcoin is not the only valuable thing in the crypto market.

Recently, Trump's project instead of buying Bitcoin, they bought altcoins and if altcoins are useless, why do they buy them?



Source: spotonchain

[Ultegra134]

How do you know that? What if the people of El Salvador want to buy something nice for their country with their profits? What if the president there gets scared that Bitcoin could drop and he would be... killed probably?

Y'all are basing everything on the random whims of the mob here--that's what connecting your market to democratic politics means.

El Salvador's citizens are praising their current president, Nayib Bukele, who has been elected for a second time in a row, for his actions against gang crime, dropping the mortality and crime rates by a huge percentage. On top of that, Bitcoin's adoption hasn't been a huge success in El Salvador, except for the fact that the government holds a decent number of Bitcoin, which has now yielded a decent amount of profit for their country. With that being said, your scenario of Bitcoin dropping would result in their president being murdered is purely fiction and unreasonable. Keep in mind that El Salvador is suspected to have bought Bitcoin at an average of $45,000 per coin, and Bitcoin has dropped below that more than once since their purchase.

[pooya87]

Lots of non-Bitcoin digital currencies have outperformed Bitcoin over the last few years--and surely many more will going forward.

Looks like history isn't just repeating on the global scale with all these weird conflicts and border changes, but it is also repeating in the Bitcoin world. This feels like a new flippening campaign is starting after a couple of years by altcoin bag-holders. I've seen other signs in altcoin boars too.
I better get some popcorns

[Lucius]

LOL, for some reason this discussion has brought all of the Bitcoin maxis out of the woodwork. That wasn't my intent   .
Lots of non-Bitcoin digital currencies have outperformed Bitcoin over the last few years--and surely many more will going forward. To believe that Bitcoin only possibly thing that can make you money--or that it absolutely positively will always make you more money--is just crazy.

Do you mean all those pump&dump schemes that periodically appear on the market as the next big thing that will change the world of cryptocurrency? They neither make sense, nor do they have any purpose except for the owner and a couple of intelligent investors to get rich by dumping pre-mined coins on naive people at some point.

Bitcoin is more than a money making scheme (at least for me), and I will always prefer to invest in it because I'm not here just for the money. Besides, what did you expect when you ask such questions on the bitcointalk forum? If you want to talk about alts with people who favor them over BTC, there are boards for such discussions.

[Franctoshi]

Has anybody thought of this?

El Salvador is a small, very poor country (average monthly income = $365). And they are a democracy. If you are an average citizen of El Salvador, you are probably thinking about the nice things you could get if your government sold all of that BTC at a huge profit (and yes, math: this isn't enough to make everybody there rich or something, but again, this country is a democracy, so...).

I know El Salvador doesn't have a large percentage of the total Bitcoin supply, and them dumping it would only be a small bump on the market for a day or two, but I would reckon the psychological effects would be pretty huge.

Of course you could argue that they would want to keep their BTC as an investment, given how much money they have already made on it, but why not invest in some other digital currency that has potential gains of 10x more? In other words, what if El Salvador is gripped by... mass-FOMO  .

Something to think about...

Would you want to quit a business or something you are doing and which you are seeing a positive result? Like you are making profits, and I doubt if anyone would do so. And before El Salvador dived into Bitcoin and considers it a legal tender and what the future might look like , I believe they must have gone through a series of a legislative debates as they run a democratic system of government. And if at all they want to sell their Bitcoin holdings, I don't think they will sell everything at the same time.

[icalical]

Dumping Bitcoin for short-term spending might sound tempting, but it is risky. Countries like Argentina are looking at similar Bitcoin strategies, not out of "FOMO", but to diversify reserves and counter global financial pressures. El Salvador's commitment is strategic, they balanced the adoption of Bitcoin with financial stability by negotiating with the IMF over loans while revising Bitcoin mandates.
https://coin360.com/news/el-salvador-bitcoin-imf-deal

Switching to other digital currencies with "10x potential" might seem like an easy win, but most altcoins don't have the maturity, security, and acceptance that Bitcoin does. Pursuing those speculative gains could mess with the trust they've built around Bitcoin and shake up their crypto experiment.

[Swordsoffreedom]

Would you want to quit a business or something you are doing and which you are seeing a positive result? Like you are making profits, and I doubt if anyone would do so.

There is a big difference between business and investing. Having a business and working can give you a monthly passive income and you can rely on it to continue to maintain your business, thereby generating more profits. But when you invest it doesn't give you monthly income and if you just hold it forever without selling then you won't get any benefit from it. Especially when it comes to volatile assets like bitcoin.

El Salvador is also an investor like us and we should not be surprised if they decide to sell bitcoin for profit because that is the purpose of investment.

[lizarder]

I know El Salvador doesn't have a large percentage of the total Bitcoin supply, and them dumping it would only be a small bump on the market for a day or two, but I would reckon the psychological effects would be pretty huge.

Of course you could argue that they would want to keep their BTC as an investment, given how much money they have already made on it, but why not invest in some other digital currency that has potential gains of 10x more? In other words, what if El Salvador is gripped by... mass-FOMO  .

If I remember correctly El Salvador made a huge profit when bitcoin hit its new ATH and it was estimated to be 5.28 Trillion. My question is what other currencies are you referring to and why should El Salvador invest in another currency when bitcoin has done so much for them and bitcoin can also be used as a hedge so El Salvador can benefit from choosing another currency. Other cryptocurrencies are not their target so they don't think it has the potential to do so and they know how bitcoin can provide more value.

El Salvador is also a country that is willing to take big risks even though most countries don't do the same, but what they have done in the past has made some countries start to show interest in the same. El Salvador has pioneered financial resilience through bitcoin and they have taught the world how something done with thoughtfulness can yield much better results.

[tbct_mt2]

Would you want to quit a business or something you are doing and which you are seeing a positive result? Like you are making profits, and I doubt if anyone would do so.

Managing a business as its owner is not easy and stressful, because you have to do many things, and you will have to pay salary to your staffs. It's more stressful than being an employed supervisor of a business and get monthly salary no matter that business is in profit or loss from its operation.

There is a big difference between business and investing. Having a business and working can give you a monthly passive income and you can rely on it to continue to maintain your business, thereby generating more profits. But when you invest it doesn't give you monthly income and if you just hold it forever without selling then you won't get any benefit from it. Especially when it comes to volatile assets like bitcoin.

Don't invest what you can not afford to lose.
Don't invest with all money you have.

If you can do this, I believe that investment in Bitcoin will be easy for you. You don't have any pressure to sell it for cash as an individual investor or as a business owner if you only use a part or small part of your business revenue for this investment.

If you bet all money of your company, all of its revenue to this investment, the story will be different and pressure on you will be bigger.

[fikrett]

Would you want to quit a business or something you are doing and which you are seeing a positive result? Like you are making profits, and I doubt if anyone would do so.

There is a big difference between business and investing. Having a business and working can give you a monthly passive income and you can rely on it to continue to maintain your business, thereby generating more profits. But when you invest it doesn't give you monthly income and if you just hold it forever without selling then you won't get any benefit from it. Especially when it comes to volatile assets like bitcoin.

El Salvador is also an investor like us and we should not be surprised if they decide to sell bitcoin for profit because that is the purpose of investment.

It's a never-ending cycle of buys and sells, so, yeah - with time, anyone who holds BTC, eventually, will drop some parts of his bags out, back onto the market - to gain a bit from it and be ready for the future market and other events that are happening on it, and to reinvest more into BTC, of course.

[betswift]

Lots of non-Bitcoin digital currencies have outperformed Bitcoin over the last few years--and surely many more will going forward.

Looks like history isn't just repeating on the global scale with all these weird conflicts and border changes, but it is also repeating in the Bitcoin world. This feels like a new flippening campaign is starting after a couple of years by altcoin bag-holders. I've seen other signs in altcoin boars too.
I better get some popcorns

Alt season horn sound? 
In any case, more factors are needed to say that something like that started.
For now, the rally for BTC is still stronger, and the sentiment is clear, in my opinion.

[Richbased]

Maybe OP wants the government of El Salvador to dump bitcoin and diversify into their legiteum currency since they have the potentials to turn El Salvador investment into 10x of their invested amount i guess...

OP, i do not contest that there are other coins that has outperformed bitcoin since they came into existence but my question is this; what is the sustainability of those coins? How can we identify them? are they worth holding for a long term?, this are the questions you need to answer because most people are interested in a currency that is valuable for them to hold for long and not some pump and dump coin that can't stand the test of time, all they do is pump and eventually vanish within a short period of time. Is that the kind of coin you will advise a whole country to diversify into?

El Salvador is one of the intelligent countries that took a good decision to adopt bitcoin, and they have multiplied their investment x2, isn't that a progressive investment? Do we need to be that greedy and look for projects that can offer x10 of our investment and in the end we lose all our money. Even if a project can only gives you x2 of your investment amount isn't it okay for you than putting your funds at risk of losing due to greed of maximizing your profits.

Perhaps, El Salvador is a small and poor country but they have made good progress from their investment in bitcoin while some large and rich countries are still adamant about bitcoin and has failed to buy and adopt bitcoin. It doesn't matter the amount El Salvador owns in bitcoins but what matters most is that they made good investment decision and it worked for them.

[Franctoshi]

Would you want to quit a business or something you are doing and which you are seeing a positive result? Like you are making profits, and I doubt if anyone would do so.

There is a big difference between business and investing. Having a business and working can give you a monthly passive income and you can rely on it to continue to maintain your business, thereby generating more profits. But when you invest it doesn't give you monthly income and if you just hold it forever without selling then you won't get any benefit from it. Especially when it comes to volatile assets like bitcoin.

El Salvador is also an investor like us and we should not be surprised if they decide to sell bitcoin for profit because that is the purpose of investment.

Remember that this country has considered Bitcoin a legal tender or alternative currency to US dollar, so they didn't buy Buying Bitcoin based on the investment side alone, but also to use it for day-to-day transaction in their country, so thinking about selling or liquidating all their Bitcoin portfolio at once according to Op, seem not very likely,  but they can sell some portion of their holdings.

[Jaycoinz]

El Salvador should sell bitcoin and buy altcoins. So that the market will react and the price of bitcoin may fall for a day or two. I am not interested to discuss about if El Salvador selling bitcoin than to let you know, that will not stop bitcoin to get to all-time high.

About buying altcoins, the country is not gambling but investing on good assets. Not pump and dump coins.

Well atleast if you know they aren't gonna sell their Bitcoin and buy altcoins then try and relate to what the effect will be if they were to sell their Bitcoin as I would also want to know if this will have any positive impact on the price market fluctuating and also just for consideration what if micro strategy and Micheal saylor decides to sell and more we all know the entire money he uses in buying Bitcoin is not entirely his as it's a company shares and so maybe possible some folks don't have same vision as him.

Just jogging my imagination here.

[Z-tight]

Lots of non-Bitcoin digital currencies have outperformed Bitcoin over the last few years--and surely many more will going forward. To believe that Bitcoin only possibly thing that can make you money--or that it absolutely positively will always make you more money--is just crazy.

Outperformed BTC in what particular way, and can you mention some of these digital currencies. Nobody is saying that BTC is the only coin that can make people money, many altcoins pump, they are even called pump and dump coins, but how many of these altcoins have an actual utility, how many will be around in a few years time when the hype is over and how many people lose money in finding the 'one' altcoin that will make them money. You can say all you want to say about BTC for whatever reason, but you know BTC is above the coins you have in mind.

[legiteum]

LOL, for some reason this discussion has brought all of the Bitcoin maxis out of the woodwork. That wasn't my intent   .

What do you expect? You do realize you are asking this question on a bitcoin forum, right?

I guess I don't always expect Bitcoin maxis who not only consider Bitcoin to be great, but declare absolutely every other conceivable investment to be terrible.

Anyhow, most of the replies here are the same: since there's absolutely no chance Bitcoin will go down, and absolutely no chance that all of the people of El Salvador are convinced otherwise, and they are both convinced that there's absolutely no chance there is a better investment than Bitcoin, then... of course they won't sell.

Maybe the maxis here are right, or maybe they are wrong. It sure seems like they are depending on a lot of things out of their control to reach these conclusions.

[famososMuertos]

If you follows the topic carefully and analyzes the political, social and cultural edges of El Salvador, immediately without much analysis it is not understandable that this country supports bitcoin with the needs it has, in fact it is after a "conditional" loan from the IMF, which in reality puts it against the sword, for now it is the fourth "jaque" from the IMF, it did so in 2021, 2022, 2023, and 2024.

Bukele is a political genius, who managed to put El Salvador on the map of the trend, its income from tourism has improved, but those are only palliatives, in reality it needs that loan, but all that mentioned makes El Salvador become what many Hodler or bitcoiners do not represent a tangible entity of what bitcoin means beyond the mere fact of thinking of bitcoin as a payment processor or a reserve currency... it is a spear of ideals, which for now they have managed to sustain for almost 4 years, And if it would be a very hard blow to the niche's "ego", OP should not speak in the third person, the fact of what happens with El Salvador should involve us all.

It is unfortunate that it is spoken of as if it will happen,,, if Salvador, this or that, it is about empowerment, and that is what bitcoin means, we all become one country, one nationality, few understand that value.