He is the president of the country and he does not buy Bitcoin with his own money, and the loss you are talking about is not his personal loss, but the loss of all the people who fill the budget of that country. It's easy to be a true believer if you're gambling with other people's money, right?
Everyone ignores this, he is not playing with his money, he is using government funds without asking anyone else, is not asking the citizens of Salvador, he is doing everything in their name with their money. But of course, everything is good here because it fits the narrative, if he would do the other thing, like selling the coins one at a day, despite being entitled to do so because it's their coins you will hear everyone bashing him like there is no tomorrow.
This is fine, just like SBF giving a ton of money which was obviously not his left and right, and getting cheered about his generosity was a smart move accepted by the community. And now if we would go one step further and ask our dear Bukele about some proof of funds just as we ask exchanges, again, crickets!
Let's wait and see if Christmas will come before another hero gets caught in another web of lies, let's see who that is.
I have written several times and posted a link that explains in detail how Bitcoin came to that country, and just a few weeks before Bukele almost concluded an agreement with some completely different people, and an altcoin was supposed to become a legal tender in that country. According to everything that can be read, he did not change his mind because Bitcoin is better, but because more powerful players came and bought his trust.
Of course, no one cares what happened and what is happening now in the background, because that can spoil a nice story about a country where Bitcoin is legal tender and you can pay for everything (allegedly) with Bitcoin, although research shows that this is not the case.
