Topic: *El Salvador To Start Purchasing Bitcoin Everyday* - page 4. (Read 753 times)
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
That's really good news which shows that El Salvador is still optimistic about bitcoin even in the current bitcoin crash. And this is a bold move from El Salvador, who will start buying one Bitcoin daily. They will benefit when the bitcoin price starts to climb and others will not be able to catch up with El Salvador. This news will spread widely and people will see it as a step to keep investing in bitcoin even though the market conditions are declining. But this is a good strategy for investing in bitcoins because they don't need to spend a lot of money to buy one bitcoin.
This move is just a change of strategy that some will say is good, but I would say that it makes sense for an ordinary user who does not have enough money to make a big investment and is forced to buy in this way. El Salvador is a country that is not in the best economic condition, but 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.
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?
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.
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?
El Salvador's president just tweeted that his nation would begin purchasing one Bitcoin each day starting from tomorrow.
It's a good moment to invest more, if they have the money for it.
The chances are better for the price to go up than down from this moment, so El Salvador could look very nice in a rather near future.
It's funny to see how Justin Sun is trying to copy this (if that's indeed his real account), just to gather a few crumbs of attention.
Do we call this Dollar Cost Average or Bitcoin Cost Average?
Smart thing this man is doing. Definitely something worth it in the long run. I imagine there are going to be so many more bad news coming, it is always like this every bear run, so it is going to be a perfect opportunity for whoever is doing DCA or, in this case, BCA.
-
Regards,
PrivacyG
Smart thing this man is doing. Definitely something worth it in the long run. I imagine there are going to be so many more bad news coming, it is always like this every bear run, so it is going to be a perfect opportunity for whoever is doing DCA or, in this case, BCA.
-
Regards,
PrivacyG
El Savoadour's bitcoin adoption is simply amazing, and having a bitcoin beach will pique the interest of other countries, and el Savoadour not having much money as a country but planning to use tax money to invest is very strategic of their government to actually make use of the bear market to invest in bitcoin is not a bad idea to accumulate, but I hope that after his tenure, the next president does not simply sell everything and kill the legacy.
Investors were hesitant to make investments in the cryptocurrency world as a result of multiple projects failing and the market fall. A significant Bitcoin bull maintained optimism even as reports of Bitcoin's collapse spread. El Salvador's decision to accept Bitcoin as legal tender shocked the entire world. El Salvador wanted to boost their holdings despite the asset falling below $16,000.
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.
See link to picture of the tweet: https://imgur.com/a/abjzArX
Source: https://watcher.guru/news/el-salvador-to-start-buying-bitcoin-every-day-from-tomorrow
This is the original tweet: https://twitter.com/nayibbukele/status/1593113857261965312?cxt=HHwWgMDQzZmn8JssAAAAThe 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.
See link to picture of the tweet: https://imgur.com/a/abjzArX
Source: https://watcher.guru/news/el-salvador-to-start-buying-bitcoin-every-day-from-tomorrow
It's for real and legitimate account and he said that they're going to start buying tomorrow. Honestly, I remember the Terra foundation as they were the other ones that have said that they're investing in bitcoin and buying it everyday.
But the difference is that, they're a project and Nayib Bukele is a president that has no foundation and it's just going to be held as an investment for the future.
I think Nayib bukele has done the right thing if he starts buying at the current price. And Tweets from Nayib bukele always steal a lot of attention. Even now the tweet has spread to almost all crypto telegram channels. And it seems that Nayib bukele is not the only one who will buy 1 bitcoin every day starting tomorrow. because I saw Justin sun replying to Nayib's tweet. and Justin sun also said he would do the same thing. i.e. buy 1 bitcoin every day starting tomorrow. I think this is still included in the DCA category.
and the conversation around El salvador and Nayib bukele actually continues on the topic El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻.
and the conversation around El salvador and Nayib bukele actually continues on the topic El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻.
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.
Once you get into crypto, you will be addicted to crypto. And this is probably what happens to Nayib.
He bought when the price was at $50K+, it shouldn't be surprising for Nayib to be more bullish. It's a good time for DCAing even if the price is dumped to $13k, there were users who said we're up to go bull run after 5-6 months.
But he will have the last laugh when the bull run comes very early.
Basically El Salvador is doing what a lot of others do in silence. They are taking advantage of the discount and aim for the long term potentials after the drama ends. I'm curious as to how long they are going to continue buying 1 BTC/day or at least the dedicated budget (it would take 62 days to invest $1 million assuming fixed price).
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.
Investors were hesitant to make investments in the cryptocurrency world as a result of multiple projects failing and the market fall. A significant Bitcoin bull maintained optimism even as reports of Bitcoin's collapse spread. El Salvador's decision to accept Bitcoin as legal tender shocked the entire world. El Salvador wanted to boost their holdings despite the asset falling below $16,000.
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.
See link to picture of the tweet: https://imgur.com/a/abjzArX
Source: https://watcher.guru/news/el-salvador-to-start-buying-bitcoin-every-day-from-tomorrow
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.
See link to picture of the tweet: https://imgur.com/a/abjzArX
Source: https://watcher.guru/news/el-salvador-to-start-buying-bitcoin-every-day-from-tomorrow
Jump to: