El-salvador bitcoin investment is underwater - page 5.

jrrsparkles

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Quote from: Cryptornd on June 21, 2022, 05:45:40 AM

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 Roll Eyes

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

Well its true that the holding asset lost its value around 50 to 60% but its not a complete loss until its on the hold just same like the investors and you know bitcoin is not the only asset which is facing such kind of down trend, almost the whole economic system of the world is going really bad and almost we may see the official statement of recession if this keeps on in this way for few weeks further.

If bitcoin can reach $3K to $69K in a year then I expect it to hit $100K atleast from the $20K region in the next cycle, keep your hopes alive. Tongue

avikz

legendary

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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.

Wiwo

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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

_act_

legendary

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What are you trying to bring up in your post?

El Salvador is a country that adopted bitcoin as a legal tender, there are criticism from many organizations, but El Salvador government has always reply good to the criticisms.

You can read one of the recent tweets of Nayib Bukele, El Salvador's president:
https://mobile.twitter.com/nayibbukele/status/1538356901297143809?ref_src=twsrc%5Etfw

You can also read what El Salvador minister of finance said about the price of bitcoin that has decreased recently:

Quote from: _act_ on June 14, 2022, 11:46:04 AM

I think El Salvador government prepared before they accepted bitcoin as a legal tender, see what Alejandro Zelaya, the minister of finance of El Salvador said about buying bitcoin.

https://cointelegraph.com/news/el-salvador-has-not-had-any-losses-due-to-bitcoin-price-dive-finance-minister-says

Quote

“There is a clear criticism of Bitcoin as such, not of El Salvador's strategy. El Salvador is what interests them the least, they [the media outlet] are not interested in what happens to our economy, they are not interested in what happens with our people, what happens with inflation.”

Quote

“I have said it repeatedly: A supposed loss of 40 million dollars has not occurred because we have not sold the coins.”

We all know that the second quote is true, 1 BTC is equals to 1 BTC, if El Salvador has not sold bitcoin, this is not loss. Some holders will see the price falling, only what they think about is to wait for another years for all-time-high.

How do you see people that are criticizing El Salvador government as bitcoin price has decreased? As for me, I see them as someone that will only panic and sell, thinking they have lost money, but latter regret this in long term when the price of bitcoin reach all-time-high.

You can join us on this thread for latest further discussion about El Salvador bitcoin adoption as a legal tender: https://bitcointalk.org/index.php?topic=5342087.660

Cryptornd

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Activity: 98

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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 Roll Eyes

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

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