Bitcoin price crashed down for a few months due to a number of factors. One of the biggest and prime factors was the sudden cut off of demand and supply of bitcoin due to the sudden hike in inflation, the highest in 40 years, due to the russia-ukraine war. However, now, as we look into the daly price charts, bitcoin has been steadily recovering. The price of bitcoin is around $21.7k, and crypto experts are hoping that BTC will soon be back in its normal range.
I think it is a good move that El-Salvador did not sell its BTC holding, it will prove to be profitable in the long run.
Topic: El-salvador bitcoin investment is underwater (Read 949 times)
Considering the current price, which is three times less than the moment of purchase, I think that the authorities are extremely pleased 
Well, we are waiting for the result and further developments.
the current price of Bitcoin is making people not to understand their way about cryptocurrency. People is now afraid of investing for Bitcoin because of the long time of bearish market but the way we are seeing the slow movement it seems that it is gaining small ground of Bitcoin Well, we are waiting for the result and further developments.
The bitcoins El-Salvador are accumulating don't stop, the price goes down they still buy, so it can't be said that they are underwater.
They bought and tried to hold and never intended to sell any bitcoin, We all know that bitcoin price drops are inevitable, which should come as no surprise to those who have entered the market perennial and President El-Salvador knows it as well as we do.
El-Salvador will succeed because bitcoin can't drop forever as long as they keep their spirit of not selling bitcoin, ignoring the criticism out there.
They bought and tried to hold and never intended to sell any bitcoin, We all know that bitcoin price drops are inevitable, which should come as no surprise to those who have entered the market perennial and President El-Salvador knows it as well as we do.
El-Salvador will succeed because bitcoin can't drop forever as long as they keep their spirit of not selling bitcoin, ignoring the criticism out there.
If every bitcoiner did that, things would been different. But most people are only into Bitcoin thinking about its price in Fiat terms, so they will sell in order to prevent further losses in the short term. I think El Salvador is on a path towards becoming a wealthy nation. But it will only happen if BTC to reaches a new All-time-high in price.
We need as much countries into the Bitcoin train in order to accelerate "hyperbitcoinization" as much as possible. The more Fiat loses traction because of inflation, the better it'll be for Bitcoin in the long run. Who knows if El Salvador ends up ditching USD completely in favor of Bitcoin? Just my thoughts
The government of El Salvador made the right decision based on a thorough economic study. It is certain that the decision to adopt was not the result of emotional feelings for the El Salvador president and his government. They must have studied all the possibilities expected to happen, the first of which is the decline in the price of Bitcoin, the adoption of Bitcoin occurs realistically in the long run and not Based on temporary variables, El Salvador is the first country in the world to adopt Bitcoin, so it is obvious that it will encounter many problems during this experiment, and it is certain that these problems will be resolved gradually. It is a bold decision bearing high courage from the El Salvadorian president and government.
There is absolutely new ideology ringing in my mind, I don't know if another person is thinking same thing.
Firstly, we acknowledge that El Salvador made bitcoin their legal tender, which means bitcoin is their money for saving and also for daily transactions. So, if the country is saving I'm bitcoin which is there legal tender, we should stop seeing it as a mistake or a big deal.
The country or the president per say believes in bitcoin and has made bitcoin their money, so it shouldn't amaze us that they are buying more bitcoin.
El Salvador made bitcoin the legal tender, but there is no big acceptance and usage as the president expected. Periodically surveys have been taken place. According to those survey, El Salvador people are very less into cryptocurrency usage, majority have spend the amount provided through the Chivo Wallet and stopped using bitcoin. Maybe this too can be the reason why El Salvador President is interested in buying more bitcoin as the citizens weren't holding their funds in terms of bitcoin.Firstly, we acknowledge that El Salvador made bitcoin their legal tender, which means bitcoin is their money for saving and also for daily transactions. So, if the country is saving I'm bitcoin which is there legal tender, we should stop seeing it as a mistake or a big deal.
The country or the president per say believes in bitcoin and has made bitcoin their money, so it shouldn't amaze us that they are buying more bitcoin.
Ýes, I read that many of them spent the $30 and never used the Chivo wallet or bitcoin again. It is expected though because not everyone of them would be interested in bitcoin.
Bur then, for El Salvador to succeed in bitcoin, they should learn to use it as transaction and maybe use the LN as well.
If Bukele actually bought more bitcoin because his people were not holding, it means he will keep buying. Was there an express information or order that everyone should hold their $30 in chivo wallet?
There is absolutely new ideology ringing in my mind, I don't know if another person is thinking same thing.
Firstly, we acknowledge that El Salvador made bitcoin their legal tender, which means bitcoin is their money for saving and also for daily transactions. So, if the country is saving I'm bitcoin which is there legal tender, we should stop seeing it as a mistake or a big deal.
The country or the president per say believes in bitcoin and has made bitcoin their money, so it shouldn't amaze us that they are buying more bitcoin.
El Salvador made bitcoin the legal tender, but there is no big acceptance and usage as the president expected. Periodically surveys have been taken place. According to those survey, El Salvador people are very less into cryptocurrency usage, majority have spend the amount provided through the Chivo Wallet and stopped using bitcoin. Maybe this too can be the reason why El Salvador President is interested in buying more bitcoin as the citizens weren't holding their funds in terms of bitcoin. Firstly, we acknowledge that El Salvador made bitcoin their legal tender, which means bitcoin is their money for saving and also for daily transactions. So, if the country is saving I'm bitcoin which is there legal tender, we should stop seeing it as a mistake or a big deal.
The country or the president per say believes in bitcoin and has made bitcoin their money, so it shouldn't amaze us that they are buying more bitcoin.
Its quite true, they are really not focusing on it like an investment for today, they are considering it as an investment for their children and people can't see that. Government doesn't have a lifetime, unless someone topples it and builds a new nation there, we are going to see El Salvador exceed the life period of ALL its citizens alive today, even the ones that was born today. This means that they could make investments for far further down the road than any of us ever could. This is how they could get rich, and they are aware of it, they are taking a piece of the pie that will stay with them forever, and could make them richer and richer over course of many decades.
There is absolutely new ideology ringing in my mind, I don't know if another person is thinking same thing.
Firstly, we acknowledge that El Salvador made bitcoin their legal tender, which means bitcoin is their money for saving and also for daily transactions. So, if the country is saving I'm bitcoin which is there legal tender, we should stop seeing it as a mistake or a big deal.
The country or the president per say believes in bitcoin and has made bitcoin their money, so it shouldn't amaze us that they are buying more bitcoin.
Firstly, we acknowledge that El Salvador made bitcoin their legal tender, which means bitcoin is their money for saving and also for daily transactions. So, if the country is saving I'm bitcoin which is there legal tender, we should stop seeing it as a mistake or a big deal.
The country or the president per say believes in bitcoin and has made bitcoin their money, so it shouldn't amaze us that they are buying more bitcoin.
El-Savador has made its own choice which is pretty ok by them, the best idea is to set an investment first and wait for it future yieldings, there investment is on bitcoin and not on shitcoins, then i think they deserve i bow for this courage, no matter how down it may appears, it will still finds it way up the bullish trend soon.
Plus the total bitcoin investment of el salvador is just a mere x.xx% compare to its national net worth. If their authority is not worried of this dip (base on their recent updates) then that's it. People are really minding other people's business where in fact they dont share the same ideology at the first place.I like the word minding one's business, this is what most of our government needed to understand that not everything they have to be in control of, same way they cannot handle or control the bad of the economy makes them more incapacitated to control relevant actions taken by anyone to save it's economy, what works for them may not necessarily work for others in likes manners, bitcoin adoption in El-Savador is what others feels they would have started first but taking a decision is a choice that needs no centralization.
Bitcoin is a long term investment. When an entire government invests into something you can be sure that they have entire teams of the best advisors money can buy making the strategy and doing the research.
So no, El Salvadors investment in Bitcoin is not "underwater". Its a long term investment and anyone who understands Bitcoin knows whether 50k, 60k or 20k, these are good times to buy.
So no, El Salvadors investment in Bitcoin is not "underwater". Its a long term investment and anyone who understands Bitcoin knows whether 50k, 60k or 20k, these are good times to buy.
El-Savador has made its own choice which is pretty ok by them, the best idea is to set an investment first and wait for it future yieldings, there investment is on bitcoin and not on shitcoins, then i think they deserve i bow for this courage, no matter how down it may appears, it will still finds it way up the bullish trend soon.
Plus the total bitcoin investment of el salvador is just a mere x.xx% compare to its national net worth. If their authority is not worried of this dip (base on their recent updates) then that's it. People are really minding other people's business where in fact they dont share the same ideology at the first place. 
~snip~
but sometimes the leader's voice is the loudest and most influential. Even though it might probably be a council vote, a suggestion from a higher position is the same as giving a command. So I believe the El Salvador action towards bitcoin is greatly influenced by Bukele.
Bukele is indeed very important in the decision about buying bitcoin. But as long as their finances can still be controlled, of course it will not be a problem. Remember that El Salvador also has Bitcoin mining which uses energy from volcanic mountains and this also adds to the profits for El Salvador. No other country is bolder than El Salvador on how to adopt bitcoin and invest in it. An amazing country and certainly seeing a future with bitcoin. but sometimes the leader's voice is the loudest and most influential. Even though it might probably be a council vote, a suggestion from a higher position is the same as giving a command. So I believe the El Salvador action towards bitcoin is greatly influenced by Bukele.
We don't know where exactly Bitcoin will stop dump or bottom. So Accumulating more Bitcoin would help El Salvador in the future. If they aimed to hold, then Definitely they will be the gainer.
El-Savador has made its own choice which is pretty ok by them, the best idea is to set an investment first and wait for it future yieldings, there investment is on bitcoin and not on shitcoins, then i think they deserve i bow for this courage, no matter how down it may appears, it will still finds it way up the bullish trend soon.
Considering the current price, which is three times less than the moment of purchase, I think that the authorities are extremely pleased Well, we are waiting for the result and further developments.
Well, we are waiting for the result and further developments.There are no authorities elsewhere this is bitcoin and its decentralized, don't join the lane of those whose believe was that bitcoin is being manipulated by some high authorities, that is just a simple explanation that they don't understand what decentralization means.
El Salvador just needs to DCA, they have government funds, and they can always allocate an amount for Bitcoin purchases during this bear market to lower the average cost of their Bitcoins.
but sometimes the leader's voice is the loudest and most influential. Even though it might probably be a council vote, a suggestion from a higher position is the same as giving a command. So I believe the El Salvador action towards bitcoin is greatly influenced by Bukele.
Already bitcoin is into criticism. Even in real life without criticism none could've reached a better position. We know it is part of life, and same is with bitcoin. Investment in bitcoin is always risky, very few have the courage. One such person to take strong decision is El Salvador President Nayib Bukele. He's positive about the market, and why should we speculate it can drop hard. Let us too stay positive. If El Salvador economy takes a downfall, the next to adopt bitcoin will do it with even better plans.
The nyib bukele decision is a decision that has been approved by many councils, not just a Bukele initiative. Remember that EL Salvador is a government country, they have a lot of considerations to decide everything including bitcoin investment. I think the elsalvador economy is still far from falling, because el salvador still has a lot of income.but sometimes the leader's voice is the loudest and most influential. Even though it might probably be a council vote, a suggestion from a higher position is the same as giving a command. So I believe the El Salvador action towards bitcoin is greatly influenced by Bukele.
Already bitcoin is into criticism. Even in real life without criticism none could've reached a better position. We know it is part of life, and same is with bitcoin. Investment in bitcoin is always risky, very few have the courage. One such person to take strong decision is El Salvador President Nayib Bukele. He's positive about the market, and why should we speculate it can drop hard. Let us too stay positive. If El Salvador economy takes a downfall, the next to adopt bitcoin will do it with even better plans.
The nyib bukele decision is a decision that has been approved by many councils, not just a Bukele initiative. Remember that EL Salvador is a government country, they have a lot of considerations to decide everything including bitcoin investment. I think the elsalvador economy is still far from falling, because el salvador still has a lot of income. 
The bitcoins El-Salvador are accumulating don't stop, the price goes down they still buy, so it can't be said that they are underwater.
They bought and tried to hold and never intended to sell any bitcoin, We all know that bitcoin price drops are inevitable, which should come as no surprise to those who have entered the market perennial and President El-Salvador knows it as well as we do.
El-Salvador will succeed because bitcoin can't drop forever as long as they keep their spirit of not selling bitcoin, ignoring the criticism out there.
They bought and tried to hold and never intended to sell any bitcoin, We all know that bitcoin price drops are inevitable, which should come as no surprise to those who have entered the market perennial and President El-Salvador knows it as well as we do.
El-Salvador will succeed because bitcoin can't drop forever as long as they keep their spirit of not selling bitcoin, ignoring the criticism out there.
Bitcoin Purchase Timeline of El Salvador
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
Why expect too much at the early stage? EL Salvador's adoption of Bitcoin happened recently and there are so many things to face for , and I also believe that sooner or at least in the couple of years? their action will worth how much they push this and also as they are continuously purchasing bitcoin then this is a proof that they are truly into crypto, but the problem will occur once the new government comes, because we don't know what will be the stand of the next president of this country. 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
El Salvador Purchases 80 Additional Bitcoin at $19K, President Bukele Says
Source: https://www.coindesk.com/business/2022/07/01/el-salvador-purchases-80-additional-bitcoin-at-19k-president-bukele-says/
El Salvador Buys More Bitcoin Despite 57% Loss and Debt Woes
https://www.bloomberg.com/news/articles/2022-07-01/el-salvador-buys-more-bitcoin-despite-57-loss-and-a-debt-crisis
Yes, its underwater but doesnt mean that they would be cutting loss but instead they do accumulate.
There's nothing we can do on here.
Its president is too bullish towards bitcoin.
Source: https://www.coindesk.com/business/2022/07/01/el-salvador-purchases-80-additional-bitcoin-at-19k-president-bukele-says/
El Salvador Buys More Bitcoin Despite 57% Loss and Debt Woes
https://www.bloomberg.com/news/articles/2022-07-01/el-salvador-buys-more-bitcoin-despite-57-loss-and-a-debt-crisis
Yes, its underwater but doesnt mean that they would be cutting loss but instead they do accumulate.
There's nothing we can do on here.
Its president is too bullish towards bitcoin.The President hasn't sold a single Bitcoin yet, so I'd say El Salvador's investment is still intact. As I've said before, you can only lose money if you sell your Bitcoin. It will never go to zero because many people still trust it as an alternative to the current monetary system. Long-term speaking, Bitcoin should go up in Fiat terms as the latter collapses due to ever-increasing inflation rates.
I'm certain El Salvador will become a developed country in the future due to the adoption of Bitcoin as legal tender. That is assuming President Bukele stays in power. If he loses re-election, then its probable the new President will ditch Bitcoin altogether. What matters is that Bitcoin stays true to its roots so that it could bring banking to the unbanked. Who knows if someday Bitcoin becomes the standard unit of account used by many countries worldwide? Just my thoughts
El Salvador Purchases 80 Additional Bitcoin at $19K, President Bukele Says
Source: https://www.coindesk.com/business/2022/07/01/el-salvador-purchases-80-additional-bitcoin-at-19k-president-bukele-says/
El Salvador Buys More Bitcoin Despite 57% Loss and Debt Woes
https://www.bloomberg.com/news/articles/2022-07-01/el-salvador-buys-more-bitcoin-despite-57-loss-and-a-debt-crisis
Yes, its underwater but doesnt mean that they would be cutting loss but instead they do accumulate.
There's nothing we can do on here. Its president is too bullish towards bitcoin.
Source: https://www.coindesk.com/business/2022/07/01/el-salvador-purchases-80-additional-bitcoin-at-19k-president-bukele-says/
El Salvador Buys More Bitcoin Despite 57% Loss and Debt Woes
https://www.bloomberg.com/news/articles/2022-07-01/el-salvador-buys-more-bitcoin-despite-57-loss-and-a-debt-crisis
Yes, its underwater but doesnt mean that they would be cutting loss but instead they do accumulate.
There's nothing we can do on here.
Its president is too bullish towards bitcoin. 
He can do the following:
1 - buy more bitcoin at this price of 19000$ (just take twice the money he bought at $45000 and buy at $19000)
2 - if the price drops below $19000 while he already bought at 19000$, he just buys it again
3 - when bitcoin goes back to $45000 he will have made a big profit that he won't even remember that he bought at $45000 and had to wait an eternity for the price to get back to $45000
1 - buy more bitcoin at this price of 19000$ (just take twice the money he bought at $45000 and buy at $19000)
2 - if the price drops below $19000 while he already bought at 19000$, he just buys it again
3 - when bitcoin goes back to $45000 he will have made a big profit that he won't even remember that he bought at $45000 and had to wait an eternity for the price to get back to $45000
~snip~
Exactly. El Salvador's President knew what we was going to get into. Otherwise, we wouldn't had invested into Bitcoin in the first place. Bitcoin's been shown from time to time that it always goes up after a long-standing bear market. This is the moment to buy more Bitcoin, not to panic.
Only long-term "hodlers" will see the benefits in the future once everything goes back up again. Haters will always criticize you, but you'll be the one laughing at the end as Fiat collapses due to inflation. Who knows if other countries "mimic" El Salvador's decision to adopt Bitcoin as legal tender in the long run? Just my thoughts
Haters gonna hate.
Admittedly, Bitcoin goes through severe corrections from time to time. Fiat also falls every now and then. The only difference is that for the rest of the time Bitcoin is slowly rising while fiat is continuously falling. The haters can't deny that. If we zoom out, we're seeing Bitcoin's line going upward and fiat's going downward. That's something nobody can deny.
Bitcoin's critics are free to nitpick. We've been observing that all the time. They're particularly very noisy when the market is bearish. For the rest of the time, they're wallowing in regret.
Thats a great synopsis Darker45! the haters certainly do come out of the caves with the Bears.
...and "El Salvador" knew when entering into Bitcoin and taking the daring move of adopting
Bitcoin all the potential market moves. Its also clear from their recent DCA purchase that Bukele
can see opportunities when others see disaster. Its something a number of us posted earlier
in this thread. It was the right move to make and the timing was right.
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
What's good thing about Bukele is he never loses hope and continue to have strong faith in bitcoin despite of some bitcoin attacks seeing its value has shown more price decline than price surges. And just this recent price downtrend, he bought another set of bitcoin which means a huge portfolio is waving for great profits when the market turns to bullish. Though other countries underestimate El Salvador, that don't stop Bukele to continue what he has started and even became a big fanatic of bitcoin.legendary
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Like we commonly say "Not in loss until you sell", I believe El-Salvador has not actually lost until they decide to sell their Bitcoin stash at a price lower than their buying price, the price of Bitcoin might have gone really down in this few weeks , but the chance of it going back up again is still there are very high, i can even go up far above its previous all time highs.
So for El-Salvador, I think all they can do right now is to hodl, Bitcoin price have always returned higher, stronger and better than its previous all time high price in all its previous bear seasons, I believe this one will not be an exception, El-Salvador should keep holding strong and turn a total deaf ears to critic, there investment in Bitcoin will sure pay off at last.
So for El-Salvador, I think all they can do right now is to hodl, Bitcoin price have always returned higher, stronger and better than its previous all time high price in all its previous bear seasons, I believe this one will not be an exception, El-Salvador should keep holding strong and turn a total deaf ears to critic, there investment in Bitcoin will sure pay off at last.
The accumulation zone for El Salvador is high if you compare it with the current price. But if you compare it with ATH then looks fine. We all know Bitcoin has been repeating history again and again whether ATH or dump. So I believe El Salvador is doing nothing wrong. They are still Accumulating that have been reducing the average bought price. We don't know where exactly Bitcoin will stop dump or bottom. So Accumulating more Bitcoin would help El Salvador in the future. If they aimed to hold, then Definitely they will be the gainer.
Considering the current price, which is three times less than the moment of purchase, I think that the authorities are extremely pleased Well, we are waiting for the result and further developments.
Well, we are waiting for the result and further developments. 
By investing in bitcoin, El Salvador has already taken a significant risk. They are aware of the issues involved and equipped to deal with the difficulties that will arise. Given El Salvador's position in the global economy, their brave move will be regarded with respect. Before making this decision, the president must have carefully considered the market's ups and downs. No man will endanger a nation unless he is fully aware of the investments he is making with the nation's money and has a backup plan in place.
Of course investing in bitcoin is very risky, and has now experienced a huge drop of almost 50% from the news price when Elsalvador bought Bitcoin. So far it's been very sad, but actually I'm glad there are countries that believe in Bitcoin and make it a state asset and legalize it as payment. Although I've only seen from the news and Bukele doesn't provide any concrete evidence that they have bought a lot of Bitcoins. But if the four year cycle repeats itself and there will be new high prices it is possible that El Salvador will become a prosperous country.By investing in bitcoin, El Salvador has already taken a significant risk. They are aware of the issues involved and equipped to deal with the difficulties that will arise. Given El Salvador's position in the global economy, their brave move will be regarded with respect. Before making this decision, the president must have carefully considered the market's ups and downs. No man will endanger a nation unless he is fully aware of the investments he is making with the nation's money and has a backup plan in place.
Of course investing in bitcoin is very risky, and has now experienced a huge drop of almost 50% from the news price when Elsalvador bought Bitcoin. So far it's been very sad, but actually I'm glad there are countries that believe in Bitcoin and make it a state asset and legalize it as payment. Although I've only seen from the news and Bukele doesn't provide any concrete evidence that they have bought a lot of Bitcoins. But if the four year cycle repeats itself and there will be new high prices it is possible that El Salvador will become a prosperous country.
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
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
While everybody is focused on the unrealized losses that El Salvador has on their #Bitcoin investment. They bought again in this dip.
I think they will not compromise their countries fund if they didn't know whats coming for them.
By investing in bitcoin, El Salvador has already taken a significant risk. They are aware of the issues involved and equipped to deal with the difficulties that will arise. Given El Salvador's position in the global economy, their brave move will be regarded with respect. Before making this decision, the president must have carefully considered the market's ups and downs. No man will endanger a nation unless he is fully aware of the investments he is making with the nation's money and has a backup plan in place.
Of course investing in bitcoin is very risky, and has now experienced a huge drop of almost 50% from the news price when Elsalvador bought Bitcoin. So far it's been very sad, but actually I'm glad there are countries that believe in Bitcoin and make it a state asset and legalize it as payment. Although I've only seen from the news and Bukele doesn't provide any concrete evidence that they have bought a lot of Bitcoins. But if the four year cycle repeats itself and there will be new high prices it is possible that El Salvador will become a prosperous country. 
People are very tough when it comes to doing things right with money, in El Salvador there is a lot of ignorance about the scope that bitcoin can have, people still have the chip in their heads that money like the dollar it is the safest thing for them and that they see bitcoin only as a digital currency that loses value and is not reliable, but I would like to see the faces of the people who believe that when bitcoin reaches more than 100,000 dollars, that goes to say when that happens?
~
we don't know the back up plans of el salvador. but definitely, the president won't compromise the welfare of his people. they already did calculate the risks involved so maybe, they have very good allowance about the up and down movement of prices. also, they are not losing if they are not selling their BTC. as of now, we know they are still buying at this price level. in time, we will see if their decision going into crypto is worth their resources to risk. we can't say their investments are under water. because they are not selling.
It is really amusing to see that El Salvador is still investing at this price and this should be their back up plan to invest rather than investing when the price was around $45k which means they are not calculating the risk potential. It is true that as long as they are not selling off their investment and could possible hold them till the next rally he would be a popular president but the fact is that the term for Nayib Bukele ends before the next halving and possibly the next rally.we don't know the back up plans of el salvador. but definitely, the president won't compromise the welfare of his people. they already did calculate the risks involved so maybe, they have very good allowance about the up and down movement of prices. also, they are not losing if they are not selling their BTC. as of now, we know they are still buying at this price level. in time, we will see if their decision going into crypto is worth their resources to risk. we can't say their investments are under water. because they are not selling.
However, this is good news and possible bitcoin price will recover soon and holders may receive rewards.
~
we don't know the back up plans of el salvador. but definitely, the president won't compromise the welfare of his people. they already did calculate the risks involved so maybe, they have very good allowance about the up and down movement of prices. also, they are not losing if they are not selling their BTC. as of now, we know they are still buying at this price level. in time, we will see if their decision going into crypto is worth their resources to risk. we can't say their investments are under water. because they are not selling.
It is really amusing to see that El Salvador is still investing at this price and this should be their back up plan to invest rather than investing when the price was around $45k which means they are not calculating the risk potential. It is true that as long as they are not selling off their investment and could possible hold them till the next rally he would be a popular president but the fact is that the term for Nayib Bukele ends before the next halving and possibly the next rally. we don't know the back up plans of el salvador. but definitely, the president won't compromise the welfare of his people. they already did calculate the risks involved so maybe, they have very good allowance about the up and down movement of prices. also, they are not losing if they are not selling their BTC. as of now, we know they are still buying at this price level. in time, we will see if their decision going into crypto is worth their resources to risk. we can't say their investments are under water. because they are not selling.
By investing in bitcoin, El Salvador has already taken a significant risk. They are aware of the issues involved and equipped to deal with the difficulties that will arise. Given El Salvador's position in the global economy, their brave move will be regarded with respect. Before making this decision, the president must have carefully considered the market's ups and downs. No man will endanger a nation unless he is fully aware of the investments he is making with the nation's money and has a backup plan in place.
we don't know the back up plans of el salvador. but definitely, the president won't compromise the welfare of his people. they already did calculate the risks involved so maybe, they have very good allowance about the up and down movement of prices. also, they are not losing if they are not selling their BTC. as of now, we know they are still buying at this price level. in time, we will see if their decision going into crypto is worth their resources to risk. we can't say their investments are under water. because they are not selling.
By investing in bitcoin, El Salvador has already taken a significant risk. They are aware of the issues involved and equipped to deal with the difficulties that will arise. Given El Salvador's position in the global economy, their brave move will be regarded with respect. Before making this decision, the president must have carefully considered the market's ups and downs. No man will endanger a nation unless he is fully aware of the investments he is making with the nation's money and has a backup plan in place.
Haters gonna hate.
Admittedly, Bitcoin goes through severe corrections from time to time. Fiat also falls every now and then. The only difference is that for the rest of the time Bitcoin is slowly rising while fiat is continuously falling. The haters can't deny that. If we zoom out, we're seeing Bitcoin's line going upward and fiat's going downward. That's something nobody can deny.
Bitcoin's critics are free to nitpick. We've been observing that all the time. They're particularly very noisy when the market is bearish. For the rest of the time, they're wallowing in regret.
Admittedly, Bitcoin goes through severe corrections from time to time. Fiat also falls every now and then. The only difference is that for the rest of the time Bitcoin is slowly rising while fiat is continuously falling. The haters can't deny that. If we zoom out, we're seeing Bitcoin's line going upward and fiat's going downward. That's something nobody can deny.
Bitcoin's critics are free to nitpick. We've been observing that all the time. They're particularly very noisy when the market is bearish. For the rest of the time, they're wallowing in regret.
Haters just want to discredit Bitcoin by spreading misinformation and false propaganda across every medium possible. Only smart people will take their time do their own research to realize that BTC is more than just an investment. It's a revolution that's bound to make our lives change for the better. I'd say Bitcoin is better than Fiat because it empowers people to be their own bank. There are no risks of getting your funds frozen or seized by a third party (mainly banks and/or governments). Not to mention, the cryptocurrency itself is the antithesis of inflation.
The many benefits BTC provides has encouraged some countries to adopt it as their own. El Salvador was the forerunner in this movement, followed by the Central African Republic. Other countries should do the same in order to protect themselves from a collapsing Fiat system. I'm pretty sure that once BTC rebounds back in price, El Salvador will turn from a developing country to a developed one. Who knows if we're one step closer towards "hyperbitcoinization" than we've thought? Just my opinion
Haters gonna hate.
Admittedly, Bitcoin goes through severe corrections from time to time. Fiat also falls every now and then. The only difference is that for the rest of the time Bitcoin is slowly rising while fiat is continuously falling. The haters can't deny that. If we zoom out, we're seeing Bitcoin's line going upward and fiat's going downward. That's something nobody can deny.
Bitcoin's critics are free to nitpick. We've been observing that all the time. They're particularly very noisy when the market is bearish. For the rest of the time, they're wallowing in regret.
The idea is that due to inflation, we are going to have to pay more and more in fiat when we are buying something, that is impossible to dispute. Something you buy for 100 bucks today? Will be 200+ dollars in a decade or so, maybe quicker who knows?Admittedly, Bitcoin goes through severe corrections from time to time. Fiat also falls every now and then. The only difference is that for the rest of the time Bitcoin is slowly rising while fiat is continuously falling. The haters can't deny that. If we zoom out, we're seeing Bitcoin's line going upward and fiat's going downward. That's something nobody can deny.
Bitcoin's critics are free to nitpick. We've been observing that all the time. They're particularly very noisy when the market is bearish. For the rest of the time, they're wallowing in regret.
When that fact is indisputable and it is right on your face, to say that bitcoin dropped for now? That is silly, I mean in a decade god knows where bitcoin will be, we all know it will be doing a lot better. This is why it is scary to think that there are some people out there who judge El Salvador for doing something like this. They have spent a certain amount of money today, but they will benefit from it in the future no doubt.
From my point of view it seems Bukele isn't worried about the price dip and the fact that it looks as if he has made a stupid investment if I should say so myself. Imagine spending a whooping $105m since Sept of last year when it was adopted and paying $46,000 per coin. Now the price of BTC as of writing is $19,980.02. this is what we call an unrealized loss.
Although with the graph not seeming to chart favorably for him, he still is not bothered, probably believing something good could come out from this. But how much of tax payers money will go down the drain for this?.
Although with the graph not seeming to chart favorably for him, he still is not bothered, probably believing something good could come out from this. But how much of tax payers money will go down the drain for this?.
The true story will be told in about 2.5 to 3 years from now. Providing he has diamond hands and the country keeps up with their bills, the future financial outlook will be quite bright.
I am really amazed to hear this. El-salvandor has learned to manage with the high volatility of the market.
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
nayibbukele kept buying more when the price plunged
BTC price > $45k: 271 BTC bought
BTC price < $45k: 910 BTC bought
BTC
BTCBTCnayibbukele kept buying more when the price plunged
You understand that purchasing any amount of Bitcoin does not exist in a vacuum, correct?
If they wanted to put their currency into any other asset, there's a good chance that other asset would be down too. May not be down as bad as they are with Bitcoin, but it also helps to put things in perspective and understand that El Salvador has not lost anything until they sell. They bought in at 45k, and the market could have easily went any direction.
Do you foresee Bitcoin staying at where it is in the future?
~snip~
Exactly. El Salvador's President knew what we was going to get into. Otherwise, we wouldn't had invested into Bitcoin in the first place. Bitcoin's been shown from time to time that it always goes up after a long-standing bear market. This is the moment to buy more Bitcoin, not to panic.
Only long-term "hodlers" will see the benefits in the future once everything goes back up again. Haters will always criticize you, but you'll be the one laughing at the end as Fiat collapses due to inflation. Who knows if other countries "mimic" El Salvador's decision to adopt Bitcoin as legal tender in the long run? Just my thoughts
Haters gonna hate.
Admittedly, Bitcoin goes through severe corrections from time to time. Fiat also falls every now and then. The only difference is that for the rest of the time Bitcoin is slowly rising while fiat is continuously falling. The haters can't deny that. If we zoom out, we're seeing Bitcoin's line going upward and fiat's going downward. That's something nobody can deny.
Bitcoin's critics are free to nitpick. We've been observing that all the time. They're particularly very noisy when the market is bearish. For the rest of the time, they're wallowing in regret.
The country of elsalvador has thought well about the risk of legalizing bitcoin in their country of course with the price of bitcoin falling as it is now the government of the elsalvador country is not panicking and they have a solution to overcome the problem of bitcoin's decline in their country.
You can't lose if you don't sell.
You can.
There are several of you who have made such statements in the thread, but that's a fallacy that is widely used in the investment world, not just in Bitcoin. Tell it to the one who has an investment that is going to 0, like shares of a company that goes bankrupt. He hasn't lost because he hasn't sold a stock that is worth 0? LOL.
In the same way, we should not rejoice when the price rises. Those who bought at $10k, should not be euphoric when the price went up to $69k, because they have no profit until they sell, and that is not what happens in this forum because when ATHs are beaten there are bullish messages everywhere.
So tell me how does a person holding BTC lose if he doesn't sell? The only one losing is the paper value of BTC holdings which can recover once the price of BTC started to recover again. It isn't a fallacy IMHO, that is the reality. I do think your given example doesn't fit the scenario. A company that goes bankrupt needs to liquidate its asset so basically that company sold its BTC holding at a loss.
1 Bitcoin = 1 Bitcoin, right?
Yes, but with a Bitcoin in 2012 you couldn't even afford a steak dinner with beer, and today you can buy a car with it.
1 Bitcoin of 2012= 1 Bitcoin of 2022 + 1 Bitcoin Cash + 1 Bitcoin SV
, What is the problem here? I'm quite sure El Salvador didn't buy Bitcoin expecting that it doubles its USD value overnight. Nayib Bukele must have been aware right from the get-go that Bitcoin isn't like some shitcoins that could artificially by pumped and dumped in order to make gains. Nayib Bukele must have known better.
But why do you guys look at some falling paper value? Although I'm not sure this is how a country handles its finances, if I were a president and there's some fiat money idly lying around gradually devalued and it's in the middle of a bear market, I'd also be proudly proposing they be used to buy Bitcoin instead.
But why do you guys look at some falling paper value? Although I'm not sure this is how a country handles its finances, if I were a president and there's some fiat money idly lying around gradually devalued and it's in the middle of a bear market, I'd also be proudly proposing they be used to buy Bitcoin instead.
Exactly. El Salvador's President knew what we was going to get into. Otherwise, we wouldn't had invested into Bitcoin in the first place. Bitcoin's been shown from time to time that it always goes up after a long-standing bear market. This is the moment to buy more Bitcoin, not to panic.
Only long-term "hodlers" will see the benefits in the future once everything goes back up again. Haters will always criticize you, but you'll be the one laughing at the end as Fiat collapses due to inflation. Who knows if other countries "mimic" El Salvador's decision to adopt Bitcoin as legal tender in the long run? Just my thoughts
You can't lose if you don't sell.
You can.
There are several of you who have made such statements in the thread, but that's a fallacy that is widely used in the investment world, not just in Bitcoin. Tell it to the one who has an investment that is going to 0, like shares of a company that goes bankrupt. He hasn't lost because he hasn't sold a stock that is worth 0? LOL.
In the same way, we should not rejoice when the price rises. Those who bought at $10k, should not be euphoric when the price went up to $69k, because they have no profit until they sell, and that is not what happens in this forum because when ATHs are beaten there are bullish messages everywhere.
1 Bitcoin = 1 Bitcoin, right?
Yes, but with a Bitcoin in 2012 you couldn't even afford a steak dinner with beer, and today you can buy a car with it.
They are not selling the coins as they are not tarders but you will see Nayib Bukele supporting btc and buying at these dips clearly indicating they are holding it in treasury reserves.When prices were up they were in profit but now as it's down they are in accumulation period and will gain the good position again with price recovery.
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
BTCBTCBTC
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
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
Isn’t your statement regarding this matter is too biased and a bit early?
I mean not only El Salvador, but also 90% of the Bitcoin investors bought Bitcoins when the price was around 45k usd on an average.
Does that means that our investment is underwater now? I guess no. As Bitcoins as a Digital coin has already proved its value long ago. When BTC suddenly went to 3k usd from 18k usd back in 2018, then again it broke the resistance and touched its ATH.
Similar pattern is also seen this time.
So with El Salvador, almost all Bitcoin holders are holding their coins and waiting for the coin to rise.
Don’t be impatient.
What is the problem here? I'm quite sure El Salvador didn't buy Bitcoin expecting that it doubles its USD value overnight. Nayib Bukele must have been aware right from the get-go that Bitcoin isn't like some shitcoins that could artificially by pumped and dumped in order to make gains. Nayib Bukele must have known better.
But why do you guys look at some falling paper value? Although I'm not sure this is how a country handles its finances, if I were a president and there's some fiat money idly lying around gradually devalued and it's in the middle of a bear market, I'd also be proudly proposing they be used to buy Bitcoin instead.
But why do you guys look at some falling paper value? Although I'm not sure this is how a country handles its finances, if I were a president and there's some fiat money idly lying around gradually devalued and it's in the middle of a bear market, I'd also be proudly proposing they be used to buy Bitcoin instead.
Their Bitcoin is still 2301BTC I see no loss here, how are they in the underwater while their bitcoins are still intact? All of us investing in bitcoin know it's a long-term investment, investing in future technology, so this process cannot be successful in a day or two, but must be counted by years. Bitcoin's devaluation is not surprising or out of the ordinary. No asset can grow forever without correction, when the market recovers, you will see what El-Salvador has done.
Exactly. You can't lose if you don't sell. 1 Bitcoin = 1 Bitcoin, right? Saying that El Salvador's investment is "underwater" is nothing more than a failed attempt from mainstream media and governments to scare away as much people as possible from Bitcoin. Believe me, the pioneer cryptocurrency has a lot of enemies that don't want it to prosper. Expect criticism, false propaganda, and misinformation in order to minimize Bitcoin's presence in the mainstream world.
I think El Salvador's President has been doing a great job by buying and "hodling" Bitcoin during the bear market. Once prices start to skyrocket, the government will be able to have more money in its pockets (and possibly be able to pay off its debt). The effects would be so profound that other countries will be inclined to adopt Bitcoin as legal tender. Who knows if in the future El Salvador turns from a developing country to a developed one? Just my thoughts
The country's Bitcoin investment is underwater.
Ok, and? They're currently underwater just like many other people, I don't see the problem. Sooner or later bitcoin will go up again and their investment will turn profitable, but I highly doubt that that day you're going to open a thread to celebrate the money ES will make in case they decide to 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.
I am not a huge fan of those investment from El Salvador who is actually struggling financially and looking at the way he invested recently, it was a bold move as he was fiddling with tax payers money and not from his pocket. That being said, you can only say that their investment is underwater if they are forced to sell now to cover their budget, if not it is a wise investment in the long term. 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.
How is the budget of this country now? It seems to me that this can be extremely problematic, especially if bitcoin falls in price several times.
We dont see any murmurs or complaints from their President but sure is that the current market condition did really make out some toll in terms of their Bitcoin holdings considering on how low we had plummet out but we know that it cant really be considered to be a loss as long they dont really make some panic sell and we dont even know if they had purchased more coins when the market is on the bottom.
ITs not really that ending up on positive always when someone do tends to make out some investment.
Yes, this is alarming but its impossible for its leader or president doesnt know about the probabilities or risk which is something not really surprising.
How is the budget of this country now? It seems to me that this can be extremely problematic, especially if bitcoin falls in price several times.
Nayib Bukele would have known what he was doing. Not no reason why he keeps buying bitcoins when the price falls. As long as El-Salvador keeps the Bitcoins and doesn't sell them, they have nothing to lose, it's only a matter of time. The President of El-Salvador is not bothered by the falling bitcoin rates, he just needs to be patient. buying again is a necessary thing to do to add bitcoin assets. When the bull market has arrived, Bukele will give El-salvador a lot of advantages.
I would commend El salvadors President for the fit taken so far investing in Bitcoin. Irrespective of the fact that the El salvador is the first country to officially accept Bitcoin as a legal tender and also means of store of value in the world. Though they bought in high and are currently running at a big loss but they are never perturbed with the events because for sure Bitcoin would surely spring forth to beat it's all time high. This the El Salvadors president did for the interest of the nation and his people are fully backing him up. This is one thing I love about them.
Their Bitcoin is still 2301BTC I see no loss here, how are they in the underwater while their bitcoins are still intact? All of us investing in bitcoin know it's a long-term investment, investing in future technology, so this process cannot be successful in a day or two, but must be counted by years. Bitcoin's devaluation is not surprising or out of the ordinary. No asset can grow forever without correction, when the market recovers, you will see what El-Salvador has done.
If El Salvador will just holds it and keep their hands strong and diamond, it will not be a loss for me.
A long-term goal is a must, they are aware of this right now since they bought those Bitcoin, and they are aware that the price could dump this worst.
For me, the amount of funds they used to buy bitcoin is just a cent for them, a very small portion.
A long-term goal is a must, they are aware of this right now since they bought those Bitcoin, and they are aware that the price could dump this worst.
For me, the amount of funds they used to buy bitcoin is just a cent for them, a very small portion.
Nayib Bukele would have known what he was doing. Not no reason why he keeps buying bitcoins when the price falls. As long as El-Salvador keeps the Bitcoins and doesn't sell them, they have nothing to lose, it's only a matter of time. The President of El-Salvador is not bothered by the falling bitcoin rates, he just needs to be patient. buying again is a necessary thing to do to add bitcoin assets. When the bull market has arrived, Bukele will give El-salvador a lot of advantages.
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!
Exactly. But most people don't understand that 1 Bitcoin = 1 Bitcoin, simply because they're determining its value against Fiat. As long as greed persists, we won't be going anywhere soon. How would "hyperbitcoinization" become a reality if people don't use Bitcoin directly for goods and/or services? Bitcoin is often seen as an investment than a real currency, so it's unlikely "hyperbitcoinization" will take place anytime soon. The day people switch to the Bitcoin standard, will be the day where the volatility issue will be gone for good. I'd say El Salvador's President is doing a good job by "hodling" BTC even during a persistent bear market. Fiat is bound to collapse because of ever-rising inflation rates, but Bitcoin will survive thanks to the way it was designed. With deflation in mind, Bitcoin should go up in Fiat terms sooner or later. Who knows if in the not-so-distant future El Salvador becomes a developed country with its Bitcoin "hodlings"? Just my thoughts
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.
We are all closely watching the bitcoin experiment that El Salvador has been conducting since September last year. We must pay tribute to the courage of the President of this country, who made a lot of efforts to ensure that bitcoin became legal tender in El Salvador.
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.
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.
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
BTCBTCBTC
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.
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
BTCBTCBTC
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.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
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.
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.
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
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:
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
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:
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
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.
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
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
BTCBTCBTC
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
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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