Support what did by El Savador by purchasing one Bitcoin in daily day, but I don't think effective when investing 1 Bitcoin trough have thousand Bitcoin sold and short open at future trading could give impact to make Bitcoin increase up. But appreciated because El Savador have been legalize with Bitcoin as payment currency and want to invest 1 Bitcoin every day.
Consistency invested 1 Bitcoin in daily day will have 100 Bitcoin in 100 day later and actually little bring impact with Bitcoin will going up, I am enthusiast with Bukele priority investing in Bitcoin and consistency although price ever drop and never loss motivation to see Bitcoin reach new all time high again later.
Topic: *El Salvador To Start Purchasing Bitcoin Everyday* - page 3. (Read 753 times)
I believe El Salvador bought the dip before, but it's good to see they are still doing it and willing to publicly voice support and faith in Bitcoin during an unstable time when Bitcoin is surrounded with FUD. As far as I understand, though, Bukele is basically playing with taxpayers' money, right? Not with too much of it, but still. I hope it pays off in the end and people can truly see the benefit of investing into Bitcoin, but I also think it would be good if the population had a say in all this (for example, if people could choose to give their consent for their taxes to be used for purchasing Bitcoin for the state or if they'd prefer their taxes to remain in the USD).
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.
Blending his average down while pledging confidence in bitcoin. Smart.
They haven't lost a dime because they didn't sell.
They haven't lost a dime because they didn't sell.
Bukele has always being a bitcoin enthusiast, every step he takes is always a smart one for the country. He understands the market and he’s really taking good advantage of it. The bull period coming sooner than expected will be one of the greatest joy for him if it happens. Generally and logically he’s good at this and will achieve what he aims for soon.
Considering how bad the charts are looking over the past year, it might in fact be a great choice to start purchasing parts every day rather than a one time chunky purchase. Seems like for now Bitcoin is not handling the sub $20k drop very well and let us be honest here, how many positive news have we received over the last year? Until the next bull run begins, things are only probably getting worse. Why do you think DCA is not a good strategy if you have a large chunk of money laying around?
I already wrote that DCA makes sense if Bukele expects the price to be even lower in the following months, but how much lower than this can we realistically go now? I don't know how they buy that Bitcoin, but if they deposit money every day, then buy Bitcoin and then withdraw it to a non-custodial wallet, that has its costs, which would be 30 times lower (per month) if they do it only once.
I'm not saying it's a completely bad strategy, but time will tell if it was successful given the moment we're in.
El Salvador wanted to boost their holdings despite the asset falling below $16,000.
El-Savador is living by a good example when it comes to bitcoin, they don't only take some steps but also considers them worthy for others to follow, this is a good explanation of buying the dip, all these actions were laid down treasures for the future to unveil with time, just hold and keep buying the dip.
The FTX saga caused bitcoin to drop to a 2-year low.
We have already been into it already right before the collapse of FTX exchange, the orice of bitcoin has been under the influence of going dip some months back and this exactly is what cast and burst out some altcoins and exchanges in same manner, bitcoin dip is their threat.
In the midst of all of this, El Salvador's president just tweeted that his nation would begin purchasing one Bitcoin each day starting from tomorrow.
Goodnews i think to us and the entire El-Savadorans because this is a very good and interesting decision to keep buying the dip, someday there will be a new ll time high frombthis present low and the price will emerge high and attaining irresistible level above previous rise.
the president and government of El Salvador have a strong will to use Bitcoin. even though the decline occurred and they chose to hold their Bitcoin even though they were at a loss when viewed from the USD exchange rate. they don't care about that.
the government must have calculated the gains and losses for their country in the current market situation. and the decision to buy bitcoin daily is certainly a good initiative.
no need to take into account the price of Bitcoin, the usual use for transactions will not affect it. the most important thing is to continue to increase the number to have and use in their country.
the government must have calculated the gains and losses for their country in the current market situation. and the decision to buy bitcoin daily is certainly a good initiative.
no need to take into account the price of Bitcoin, the usual use for transactions will not affect it. the most important thing is to continue to increase the number to have and use in their country.
I don't think that this way of investing will bring them any benefits - because buying 30 BTC today or doing it for a period of 30 days will not make a big difference, unless another crash happens.
Considering how bad the charts are looking over the past year, it might in fact be a great choice to start purchasing parts every day rather than a one time chunky purchase. Seems like for now Bitcoin is not handling the sub $20k drop very well and let us be honest here, how many positive news have we received over the last year? Until the next bull run begins, things are only probably getting worse. Why do you think DCA is not a good strategy if you have a large chunk of money laying around?-
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PrivacyG
This move is kind of wise because we might not see how big it will be before the start of bull runs and most people think this is not going well. But real investors know exactly where would this one go because it would be a huge profit once they managed to acquire a huge amount of bitcoins and sold some of it in the future. El Salvador wants to be the first to move because it wanted to be the first to earn once the price of BTC will gonna breaks its old ATH again.
Its a great recovery strategy that has the potential of helping the country recover quickly from the loses they incurred when they bought at a higher price. The country would make more profit immediately the bull market sets in and it would be a big boast to the economy. It is a bold step by the President of El Salvador but he should also be concerned about investing in the infrastructural development of his country. It is good to invest in bitcoin, but it would be more better to also ensure that El Salvador has basic amenities which also has the potential of attracting more investors. I am really glad that this country is always setting the pace for other nations to follow. 
It's surprising to see the investor are using this chance and buying more bitcoins. They are even happy to see the price is falling these days because they can use this chance and increase their bitcoin amounts. El Salvador is just one of them and as a big investor and botcoin believer it was very much expected to see them use this chance to buy more bitcoins.
That's a smart move if you ask me, but it takes a lot of courage to embark on such a task considering recent happenings in the crypto world.
I am sure they are taking advantage of the dip to bag more BTC, and I am certain this will pay off in the nearest future when the price of BTC go bullish.
I am sure they are taking advantage of the dip to bag more BTC, and I am certain this will pay off in the nearest future when the price of BTC go bullish.
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The FTX saga caused bitcoin to drop to a 2-year low. In the midst of all of this, El Salvador's president just tweeted that his nation would begin purchasing one Bitcoin each day starting from tomorrow.
This is also part of a value recovery scheme, if at first people think they are losing money by buying bitcoins at high prices, then the current purchases will yield huge profits, although El Salvador will have to wait for bitcoin to strengthen. What confuses me is whether El Salvador buys bitcoins to trade, or just to hold long-term assets. Because if the purchase is for storage, it is not necessarily a value recovery scheme that can be achieved in the near future.Regardless of why Nayib bukele bought bitcoin, I think he understands the concept of a state using a currency that has no impact on inflation. The real formulation of the state is only to protect, be it human resources or to keep the economy more stable.
This is a really bold decision from the President of El Salvador expressing his strong belief in Bitcoin, El Salvador is moving forward with courage in its decision to adopt Bitcoin, they really deserve to be applauded for such a good decision, they will surely reap later this right decision, it is very good to buy at these low prices even though the amount 1BTC per day is a bit low for a country's budget, but it could be that they think there might be a new low so they'll get a good DCA in the long run.
This news should encourage investors who are reluctant to buy bitcoin as it may be a last chance before the end of the year.
This news should encourage investors who are reluctant to buy bitcoin as it may be a last chance before the end of the year.
This move is kind of wise because we might not see how big it will be before the start of bull runs and most people think this is not going well. But real investors know exactly where would this one go because it would be a huge profit once they managed to acquire a huge amount of bitcoins and sold some of it in the future. El Salvador wants to be the first to move because it wanted to be the first to earn once the price of BTC will gonna breaks its old ATH again.
I had read this news as well, I was just thinking of opening this thread when I saw that you opened it. I think Nayib Bukele has taken a very right step. It's a very logical move to buy 1 BTC every day instead of making bulk purchases at certain times. Thus, it can adjust its average better and not be affected by the drops much. Buying regularly is a strategy that I also use, of course, I can't buy it every day. But I'm trying to buy weekly. If you think that this is done nationwide, it would be a very good investment plan in the long run. I congratulate Bukele for the right choice.
El salvador truly knows the real value of Bitcoins. They know how they. An make the most money out of Bitcoins. Currently Bitcoins are available at the best price available, so definitely they gonna buy it on a regular basis and will sell when the price goes up. So yes there is no doubt regarding this decision of the country. Moreover Bitcoins can rise in price anytime due to the high buy orders. So let’s hope for the best.
Indeed, we are still early. Mr President of El Salvador is not concerned about the dollar value of bitcoin he just wants to accumulate bitcoin. Despite losing $70million, according to the article, he didn't relelent. He is a true bit coiner, he doesn't need to buy bitcoin only for profits but buying bitcoin for owning more bitcoin is his goal, I assume.
No, he cares about USD value like all of us and at this point he decided to buy bitcoin because it is getting cheap. If he doesn't care about dollar value, he won't decide to buy from now on. Bitcoin is a long-term investment so it is completely normal for it to drop in price in the short term, as long as we don't sell it for less than the price we bought it, we never have to be relelent.
There is a truth that I think many people are denying, we invest in bitcoin for profit and nothing more important. Although many people say that using it is for the privacy it offers, do they really not care about its price?
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?
It's not a gamble, it is just bitcoin and that makes it controversial. Otherwise anywhere you look the governments look like big gamblers and all of them have been driving their economies into the ground. In US the FED keeps manipulating the interest rates and causes recession, in EU they keep printing more money and decreasing the exchange rate while increasing the inflation, ... but when it is bitcoin then all of a sudden we see articles like this 
Shouldn't really be a big deal. They're pretty much just moving from buying dips, to sort of like dollar-cost averaging(obviously not exactly DCA, but slightly similar). Which they should've done in the first place instead of trying to timing prices.
Every new investor has to learn a way that works for them. Maybe seeing their $ value decrease has given them a kick up the ass so they’ve now decided to change tactic by switching to DCA. As a nation, they are real pioneers so they just need to see what works for them.
In the next bull runs it will be clear that El Salvador have made a genius decision to adopt bitcoin.
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