People who are bullish about bitcoin are buying it when the price is heavily discounted. On the other hand, naysayers are selling off. Time will tell who is right but there's no denying that an opportunity period is ongoing. Who wants to stay ahead of the competition, will take the risk and others won't take any action. We have to remember that fortune favors the brave. You can't win if you don't try!
The president of El-Salvador is definitely bullish about bitcoin so he took the right decision to include more bitcoins into the national treasury at a dirt cheap price.
Topic: El Salvador Purchase More Bitcoin At $19,000 Each - page 3. (Read 586 times)
This is the future, no matter what peoples say about crypto. Smart people will benefit from this kinda market movement. Fools will sell at low. I wanna go to El Salvador
Looks like this country is destined to be the richest country in the hemisphere...
Or forced to sell to pay the bills when they need money...
It sounds like they are going all-in in this bet
Markets can stay irrational longer than you can stay solvent. Maybe old lyrics by Keynes but very applicable...
Looks like this country is destined to be the richest country in the hemisphere...
I would say that this man knows and sees the future of Bitcoin. Taking advantage of the dip now is a good strategy at positioning the economy of the country in a good economic boom in less than no time. He has proven himself to be a Bitcoin lover and an advent follower of the Crypto industry. As a pro Crypto nation, I believe the nationals would make good use of this opportunity to fill their bag this bear market while waiting for bull run.
I pray other nations sees the good in blockchain and give it a try allowing their citizens be a part of the industry without any much stringent rules.
I pray other nations sees the good in blockchain and give it a try allowing their citizens be a part of the industry without any much stringent rules.
Nayeeb has proven himself to be a real friend of bitcoin. The guy tied his country’s future to bitcoin which takes lots of courage. He indeed believes in the tech and he is not just words. He is putting his (and his countrymen’s) money where his mouth is. A true bitcoin defender and a holder. History will write songs about this man.
Okay! Good one I must confess. He's vision for Bitcoin is arguably beyond comparison. Really placed at the top front as he sees so much light from it
So here comes my question, do you consider this act as a good decision ? It's more like putting all eggs in one basket. Quite obvious he must have done he's research but they have faced a huge loss evers since they bought bigger shares.
I am not a Bitcoin critics but do you consider this wise ?
Nayeeb has proven himself to be a real friend of bitcoin. The guy tied his country’s future to bitcoin which takes lots of courage. He indeed believes in the tech and he is not just words. He is putting his (and his countrymen’s) money where his mouth is. A true bitcoin defender and a holder. History will write songs about this man.
El Salvador continues to benefit from the bear market by using it to its advantage and buying more bitcoin.
Many individuals believe that because El Salvador is a poor country and because utilizing bitcoin as legal cash has little impact on adoption of the currency. If more wealthy nations had adopted it, it would have made more sense for additional nations to do so as well, and acceptance of bitcoin would have spread more quickly and been embraced by more nations.
The government holds significant number of BTC (i.e taxpayers money) and has stocked more now. If these are the reserve and the price doesn’t go up within the possible time they’re hoping so, it can be a big disaster to them. However, I hope they continue to use the USD for everyday transactions and that this is merely a short-term problem. As for adoption among El Salvadorans, I've read that it's not that common; hence, it won't have a significant impact on the majority. But when the price has suddenly dropped like this, it can, of course, deter other nations from adopting.
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