El-salvador is in for long term with their bitcoin investment. Their president trust the technology and its potential in the future. It is just an unrealized loss for now, as long as they hadn't sold anything then they still don't lose their investment and the amount will still be the same.
I don't think most of their funds are in bitcoin, their president will not put his country at risk, he should already know the volatility of it before they invested.
Topic: El-salvador bitcoin investment is underwater - page 4. (Read 949 times)
If they don't sell it, they were never underwater. It depends on them. A country with a huge capital can risk as of 1% in the future technology (Which Bitcoin is) to gain a boost in their economy rather than buying stocks which will not really help them in the long run. All these corrections are part of the 4 year cycle, come back to this post in 2025 and you will see them enjoying profits. 
Bitcoin Purchase Timeline of El Salvador
After a buying spree, El Salvador is now holding 2301 BTC at a $45,900 avg. price
The country's Bitcoin investment is underwater.
Bitcoin had its peak at $69k, then continuously went down for months in the drumbeats of negativity
BTC price > $45k: 271 BTC bought
BTC price < $45k: 910 BTC bought
BTC
BTCBTC
nayibbukele kept buying more when the price plunged
El Salvador has come a long way on the journey to bring Bitcoin into people's daily purchase.
The country took numerous actions to realize the Bitcoin dream
I don't actually get what is your point here , but if you are trying to tell that EL Salvador fails to what they are targeting for their people? then you are completely wrong because they imposed adoption in which will prosper over the years, it is too early to seek for outcome as the other side os also pushing their part against this action from the government but all in all? this is for the peoples welfare and not for the leader or any one else, we as crypto holder and believer over the years already find this goodness and EL Salvadorian needs more time to see what we have already proven. After a buying spree, El Salvador is now holding 2301 BTC at a $45,900 avg. price
The country's Bitcoin investment is underwater.
Bitcoin had its peak at $69k, then continuously went down for months in the drumbeats of negativity
BTC price > $45k: 271 BTC bought
BTC price < $45k: 910 BTC bought
BTC
BTCBTCnayibbukele kept buying more when the price plunged
El Salvador has come a long way on the journey to bring Bitcoin into people's daily purchase.
The country took numerous actions to realize the Bitcoin dream
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Governments have done much worse "investments" than this. Long term, fiat drops in value, and as long as El Salvador doesn't have their own currency, they lose almost 100% to inflation in the long run anyway. With Bitcoin, at least there's a chance it increases in value.
The analogy you put forward does not work, because the fiat is not an investment, it is an instrument that is centrally managed by the states (despite the supposed independence of the Central Banks). It is not like buying gold, for example, which is an investment.
Regarding El Salvador, like it or not, this is not good news. When bitcoin was declared legal tender the predictions were much more bullish, and if they had been fulfilled, the adoption in El Salvador would have been higher, and also for other countries that are thinking of doing the same, the downward volatility of this year may be an argument that makes them think twice.
whales underwater?... where else would they be.. flying in clouds..
nah whales are where they are suppose to be.
the water is warm. come join. you dont want to dry out on the land. the water is the place to be. nice and refreshing and full of life.
if you want to chip away at the tip of an iceburg above water, you do so. but most of us old hoarders and whales enjoy the water and we play the waves.
but feel free to stay up in the high ground. waiting for the tsunami wave that may never come.
nah whales are where they are suppose to be.
the water is warm. come join. you dont want to dry out on the land. the water is the place to be. nice and refreshing and full of life.
if you want to chip away at the tip of an iceburg above water, you do so. but most of us old hoarders and whales enjoy the water and we play the waves.
but feel free to stay up in the high ground. waiting for the tsunami wave that may never come.
El Salvador's president looks bullish on Bitcoin and from his recent tweets he may not be purchasing more Bitcoin but rather will be looking away from the price chart, and this purchasing mentality is what make the El Salvador Bitcoin bound timeless. This relates more when price is not the focus but the number of Bitcoin in their Bitcoin stake. 1BTC=1BTC
He did it right. As the more he looks at the chart, listening to the criticism, the more it brings him down. It is a fair decision to leave for the market for a while, encouraging not to buy yet. For as long as El Salvador never sell any of their holdings, therefore to say that they never lose any and their people must stop thinking about it. We could say that they are at the wrong time accumulating Bitcoin but that is how the market works, it is unpredictable. Can't see the perfect time when to buy.
They're using Bitcoin as a digital currency, not as a stock investment to HODL
They are not. Only like 50,000 people use it, in a country of 6.5 million.And even those 50,000 people have to use "USD" as the base value for its conversion while paying(and business owners can refuse to accept BTC, in such cases it will be converted to fiat via some chivo app for customer)
He's literally burning people's money. Idk how bitcoin community can support this scum just because he bought a few coins
He's still a tyrant.
There is only one thing that can be said: 1 Bitcoin = 1 Bitcoin no matter what. Bukele said that the country lost no value because they didn't sell. That's all. Period. And this a fact. You only loose in a downtrend if you have weak hands and sell!
For everyone who worried about the capital spend to the current value of the holdings he clarified, this is not even 0.5% of the country's budget. There is no doubt 1BTC =1BTC, and Bukele made a tweet what people need to do by this situation. Just forget the graphs and charts. Start enjoying life, and have patience. Once after bear market the bull trend will begin. How is the "investment" underwater if they haven't yet sold any Bitcoins they bought?
In fact, at some point during the bear market, I predict El-Salvador may stack more Bitcoin at a discount. It takes time, but the good benefits will finally get to them.
In fact, at some point during the bear market, I predict El-Salvador may stack more Bitcoin at a discount. It takes time, but the good benefits will finally get to them.
This is what I am thinking also. They are not losing if they are not selling in this market.
Who knows, the last laugh will be El Salvador? So don't judge this early, because we have a lot of years coming by.
For one, this is not the end of crypto by any means. This is just another challenge in this market.
In no time, I believe, we will see this market in a very good position again. But we need to be patient on this market.
And sooner or later, yes, we may read it again in the news, that during this bear market, El Salvador got a hold of more bitcoins.
How is the "investment" underwater if they haven't yet sold any Bitcoins they bought?
In fact, at some point during the bear market, I predict El-Salvador may stack more Bitcoin at a discount. It takes time, but the good benefits will finally get to them.
In fact, at some point during the bear market, I predict El-Salvador may stack more Bitcoin at a discount. It takes time, but the good benefits will finally get to them.
They're using Bitcoin as a digital currency, not as a stock investment to HODL
Bitcoin had its peak at $69k, then continuously went down for months in the drumbeats of negativity
BTC price > $45k: 271 BTC bought
BTC price < $45k: 910 BTC bought
BTCBTCBTC
This is only reduced by the value of the Dollar, not the value of Bitcoin that El Salvador holds. And as long as the number of Bitcoins does not decrease, there will be no worries about losing more. In fact, later we will see that El Salvador is the only country with the most ownership. Today did have a bear market but imagine when it's next ATH El Salvador will laugh with pride for turning a bearish moment into a big buy and the next day El Salvador stands taller with broad chests saying we surpassed other countries finances in just a short time. Believe it or not, Bitcoin can make it all happen. BTC price > $45k: 271 BTC bought
BTC price < $45k: 910 BTC bought
BTC
BTCBTC
The country's Bitcoin investment is underwater.
I believe that was is meant by under the water in investment is when the value of something purchased becomes lesser than when you bought it. If this is the case, there is no need singling out El Salvador to criticize their investment in bitcoin with that idiomatic expression, when in fact the current situation is not a case peculiar to them but affecting everyone who has invested in bitcoins. Although no one could have accurately predicted bitcoins to get to the low price it is at currently, the Analyst(s) who the El Salvadorian president may have consulted with prior to the decision to adopt bitcoins must have indicated that there is a possibility of this current market situation.On the positive sides of things, if El Salvador can survive these times, I don't see another situation threatening their bitcoin adoption that they can't survive.
Sounds like you are mocking them on why they make bitcoin as one of their legal tender on this bear trend. While it looks like same like you are too bullish when they annouced it on the very first place.
At least El Salvador's president knows when someone lost in bitcoin investments — you only lost when you sold.
He deserves to be mocked. Imagine using taxpayers money to invest in a high-risk asset. It's monopoly money for him. At least El Salvador's president knows when someone lost in bitcoin investments — you only lost when you sold.
He's a narcissistic douchebag, pretending to care while he gives zero shit about what's going on in the streets of El-Salvador. It's all a ruse. His police report fake numbers, he pays off gangs, fires whoever criticizes his policies in the government, and replaces them with his lapdogs.
I am glad that bitcoin crashed, that fcker deserves this humiliation
When a country can go to an extent of adoption bitcoin as a legal tender and even encouraged their citizens to use it, they have definitely taken a calculated risk. Do you think they aren't aware of the past ups and downs?
I won't be surprised if the news comes up that El-Salvador is again buying bitcoin at the current level. This is a long term game and everyone understands it.
I won't be surprised if the news comes up that El-Salvador is again buying bitcoin at the current level. This is a long term game and everyone understands it.
It would make sense for them to be purchasing more, at the current market price their average
buy price will be drastically reduced and obviously the option to sell does not make sense.
My Opinion - There is less than 2 years until the next halving, we all know whats going to
happen following and there is a big chance the market will start rising 6 months before the event,
so if they can weather the pressure of the bear market and are able to DCA in the meantime it
will be all good.
Its nice to see support for El Salvador
Sounds like you are mocking them on why they make bitcoin as one of their legal tender on this bear trend. While it looks like same like you are too bullish when they annouced it on the very first place.
At least El Salvador's president knows when someone lost in bitcoin investments — you only lost when you sold.
At least El Salvador's president knows when someone lost in bitcoin investments — you only lost when you sold.
There is only one thing that can be said: 1 Bitcoin = 1 Bitcoin no matter what. Bukele said that the country lost no value because they didn't sell. That's all. Period. And this a fact. You only loose in a downtrend if you have weak hands and sell!
We do really indeed have that basic principle on which as long you don't sell then you won't lose nothing and we've seen that bukele didnt make any moves yet he's fully aware on how volatile and risky the market is which it is really that make him prepared on times like this.He won't make btc as a legal tender without minding it's cons and risk.People can't really just avoid to make out some criticism on something that they do see specially if there's someone who do bought on the peak or midway.
Governments have done much worse "investments" than this. Long term, fiat drops in value, and as long as El Salvador doesn't have their own currency, they lose almost 100% to inflation in the long run anyway. With Bitcoin, at least there's a chance it increases in value.
There is only one thing that can be said: 1 Bitcoin = 1 Bitcoin no matter what. Bukele said that the country lost no value because they didn't sell. That's all. Period. And this a fact. You only loose in a downtrend if you have weak hands and sell!
Bitcoin Purchase Timeline of El Salvador
After a buying spree, El Salvador is now holding 2301 BTC at a $45,900 avg. price
The country's Bitcoin investment is underwater.
After a buying spree, El Salvador is now holding 2301 BTC at a $45,900 avg. price
The country's Bitcoin investment is underwater.
You are assuming that the U.S. dollar value of the bitcoins matters, that the bitcoins were purchased for the purpose of increasing the amount of U.S. dollars they could acquire in the future. If that is the intended reason for holding Bitcoins, then yes the value of the bitcoin holdings at the current exchange rate is lower than the average excahange rate at which they were acquired.
However, if there are other reasons for holding the bitcoins (such as being a part of a global bitcoin economy), then they still have the same amount of bitcoins as they had before the exchange rate dropped. They haven't lost anything. Sure, they could have acquired MORE bitcoins if they had waited until now to acquire them, but there was no way to know that with any certainty back when they made the exchange. They also could have acquired less bitcoins if they had made all their echanges at the higher exchange rate.
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