*El Salvador To Start Purchasing Bitcoin Everyday*

Antonas1

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Quote from: TheGreatPython on November 19, 2022, 02:42:51 PM

Quote from: ?? on ??

~

$30k was still a dumped price. Remember our last ATH was $69k but even if it goes back there, El Salvador still has the capacity of buying it because the government has a lot of funds in them. You are right, they already bought a lot because it's been a long time since they started adopting btc in their country.

If BTC returns to $69K, I believe Bukele will sell it, then wait for a price correction to buy back.

Quote from: TheGreatPython on November 19, 2022, 02:42:51 PM

If you and me are waiting for the main event which is the bull run then why not them? They are also a human like us that wants to earn a profit and that is why they invest on it at the first place but the money that they will earn won't be used personally but it will be used to improve their country more. The moves that they are doing can encouraged other people to do the same but isn't that great? Many wishes that there's a big increase that will happen this year.

Of course, I just don't believe Bukele keeps buying Bitcoins without a time limit, that means he'll never sell them, and it is impossible.

milewilda

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Quote from: eightdots on November 19, 2022, 04:10:13 PM

In fact, many companies and governments buy Bitcoin. Only El Salvador does this publicly. I appreciate. We've all seen some big companies announce that they own Bitcoin when Bitcoin reaches high values. We will see again. They're doing what they're supposed to do right now and they're getting Bitcoin. These companies are long-term investors. Some are lowering the averages of the prices of the Bitcoins they bought on time. Both El Salvador and companies that buy Bitcoin secretly are investing in the future.

Indeed, but do not compare companies to a country, it is more unusual these days that a certain country is now focusing to buy bitcoin even the market is falling, when the time comes that bitcoin bounce back from its price today, that would great and El Salvador will not regret anything but instead they will become an example to other country who doesn't support bitcoin.

As a President then making out these kind of decisions which would really be requiring that approval since this isnt his money been using for it to be invested on Bitcoin.
For sure there would really be lots of critics in regarding on what he had done.Some might really be that supportive in regarding on the step that he had done
but for sure there are lots of criticisms in regarding on this decision.Well, its impossible that he doesnt know about the risk.As long he do his job well
and its citizens do agree nor doesnt reject on what he currently doing then so be it.

borovichok

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Quote from: eightdots on November 19, 2022, 04:10:13 PM

In fact, many companies and governments buy Bitcoin. Only El Salvador does this publicly. I appreciate. We've all seen some big companies announce that they own Bitcoin when Bitcoin reaches high values. We will see again. They're doing what they're supposed to do right now and they're getting Bitcoin. These companies are long-term investors. Some are lowering the averages of the prices of the Bitcoins they bought on time. Both El Salvador and companies that buy Bitcoin secretly are investing in the future.

El Salvador is one of the fastest growing country when it comes to accepting Bitcoin as means of payment. They're growing rapidly and it's been discreet because most countries are not well highlighten on the operation of bitcoin ecosystem. There are countless companies in El Salvador that have hugh quantities of Bitcoin and they will keep it for a lengthy period of time inother to gain more profits in the nearest future. Investing in Bitcoin now that it's in serious dump will be one of the most ultimate target for companies and they take good advantage of it.

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Quote from: eightdots on November 19, 2022, 04:10:13 PM

In fact, many companies and governments buy Bitcoin. Only El Salvador does this publicly. I appreciate. We've all seen some big companies announce that they own Bitcoin when Bitcoin reaches high values. We will see again. They're doing what they're supposed to do right now and they're getting Bitcoin. These companies are long-term investors. Some are lowering the averages of the prices of the Bitcoins they bought on time. Both El Salvador and companies that buy Bitcoin secretly are investing in the future.

Very few have the courage to stay transparent with the plans and execution. El Salvador does it in a fair way. The prime focus of the country is to buy as much and make it the country's reserve. The country have come into criticism, because they revealed it to the outer world. As many companies do, they could've done it confidential. Someone could've stolen the show, now they've made history and will make the history stronger making other countries follow their footsteps.

eightdots

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In fact, many companies and governments buy Bitcoin. Only El Salvador does this publicly. I appreciate. We've all seen some big companies announce that they own Bitcoin when Bitcoin reaches high values. We will see again. They're doing what they're supposed to do right now and they're getting Bitcoin. These companies are long-term investors. Some are lowering the averages of the prices of the Bitcoins they bought on time. Both El Salvador and companies that buy Bitcoin secretly are investing in the future.

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Quote from: Chilwell on November 17, 2022, 01:56:25 AM

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.

Not only El Salvador but many other investors, governments, institutions, and investors are buying and accumulating bitcoin in this dip.
It is only the retailers who do not buy in these times. How sad is that only the common man is fearful at this time and waiting for more low prices. This fear and greed index is being wrongly used by most people. In fearful times, we should our bags while in greedy times we should sell, but it happens otherwise.

TheGreatPython

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Quote from: ?? on ??

No time limit? And what if tomorrow the price is $30K, will they still be buying every day? Bukele are running a tactic.
I'm prejudiced, looks like he has already bought a lot from a few weeks/months ago and just waiting for the bull run. He tweeted to make it look like there was an "oasis" and people rushed to buy so the price goes up soon this year, going to $30K at least. Sell and buy again when the correction comes. Let's see how far it goes.

$30k was still a dumped price. Remember our last ATH was $69k but even if it goes back there, El Salvador still has the capacity of buying it because the government has a lot of funds in them. You are right, they already bought a lot because it's been a long time since they started adopting btc in their country.

If you and me are waiting for the main event which is the bull run then why not them? They are also a human like us that wants to earn a profit and that is why they invest on it at the first place but the money that they will earn won't be used personally but it will be used to improve their country more. The moves that they are doing can encouraged other people to do the same but isn't that great? Many wishes that there's a big increase that will happen this year.

Antonas1

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Quote from: Xxmodded on November 18, 2022, 03:04:05 PM

Quote from: ?? on ??

~

I don't think with Bukele is trader with selling Bitcoin when reaching higher price maybe $30,000 based on with how many Bitcoin assets still hold, he has priority keep holding and make Bitcoin bigger investment assets in the future and right now effective purchase or invest with 1 Bitcoin every day. ~

I don't think so. March 23, 2024 is the next bitcoin halving. If Bukele buys 1 BTC every day from November 18, 2022 until March 23, 2024, then he has 461 BTC.
So let's assume BTC hits $100K as people want. If Bukele sells them all (excluding the 2382 BTC that DdmrDdmr mentioned) then he has 46.1 million dollars.

I know nothing about economics, but I try to think in an easy way, if the $46.1 million were distributed to the 6,568,745 people (2022 population - wikipedia est.), each person would only get about $7,018083363. It's not as profitable compared to increasing the amount of BTC through trade.
Please correct me.

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Quote from: lionheart78 on November 18, 2022, 03:24:17 PM

Quote from: Victorik on November 17, 2022, 06:11:31 AM

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.

Quote from: Victorik on November 17, 2022, 06:11:31 AM

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.

Yeah while others cower in fear of bankruptcy, El Salvador decides to bag more, and by doing that, they lower their average buy price and accumulate more BTC holdings which can be a game changer in their economy.

Quote

I think it doesn't need courage at all especially since the leader of El Salvador is not using his own money to buy BTC. But I think it is a matter of wisdom. I really admire El Salvador's leader to have wisdom regarding the Bitcoin investment. They understand and foresee that the future of Bitcoin is huge. Among the leaders of the world, they are the only ones who see that Bitcoin is the real thing.

Investing with other people's money require more courage. If it was personal funds he was using, he probably will bear the gains and the losses on his own. But right now,.he is using the common wealth of the citizens of his country to invest in what not everyone believes in. That to me is a huge risk and requires a lot of guy.

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Quote from: Hypnosis00 on November 18, 2022, 06:20:34 PM

Quote from: Viscore on November 18, 2022, 04:44:19 PM

Quote from: mk4 on November 17, 2022, 02:04:14 AM

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.

El Salvador has its own goal to maximize their bitcoin purchase so this bear season is the perfect timing to start buying on a large scale. Whether they do it using DCA, that will still be at their own advantage since they will also reap their fruits of labor when the bullish market takes over. While others do the opposite timing in buying, El Salvador still manage to purchase everyday using their huge funds.

The president never just looks at today's investment situation but at the future. He thinks that what he did will contribute to huge changes in their country which I see not all have seen and appreciated. He is not just a casual investor but a wise person who thinks about the benefits the country would get after buying and securing Bitcoin while the price is cheap. Some people say "El Salvador will become rich in the future due to spending more funds in Bitcoin", which is really possible.

This major move by the president of El Salvador to buy one bitcoin per day shows his firm belief in bitcoin, targeting its long-term potential and starting to accumulate. It is a good idea to invest in bitcoin accumulation in a bear market, when the bitcoin price starts to rise, their whole country will benefit and bring considerable changes to their country.

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Quote from: Viscore on November 18, 2022, 04:44:19 PM

Quote from: mk4 on November 17, 2022, 02:04:14 AM

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.

El Salvador has its own goal to maximize their bitcoin purchase so this bear season is the perfect timing to start buying on a large scale. Whether they do it using DCA, that will still be at their own advantage since they will also reap their fruits of labor when the bullish market takes over. While others do the opposite timing in buying, El Salvador still manage to purchase everyday using their huge funds.

The president never just looks at today's investment situation but at the future. He thinks that what he did will contribute to huge changes in their country which I see not all have seen and appreciated. He is not just a casual investor but a wise person who thinks about the benefits the country would get after buying and securing Bitcoin while the price is cheap. Some people say "El Salvador will become rich in the future due to spending more funds in Bitcoin", which is really possible.

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Quote from: mk4 on November 17, 2022, 02:04:14 AM

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.

El Salvador has its own goal to maximize their bitcoin purchase so this bear season is the perfect timing to start buying on a large scale. Whether they do it using DCA, that will still be at their own advantage since they will also reap their fruits of labor when the bullish market takes over. While others do the opposite timing in buying, El Salvador still manage to purchase everyday using their huge funds.

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Quote from: Victorik on November 17, 2022, 06:11:31 AM

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 think it doesn't need courage at all especially since the leader of El Salvador is not using his own money to buy BTC. But I think it is a matter of wisdom. I really admire El Salvador's leader to have wisdom regarding the Bitcoin investment. They understand and foresee that the future of Bitcoin is huge. Among the leaders of the world, they are the only ones who see that Bitcoin is the real thing.

Quote from: Victorik on November 17, 2022, 06:11:31 AM

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.

Yeah while others cower in fear of bankruptcy, El Salvador decides to bag more, and by doing that, they lower their average buy price and accumulate more BTC holdings which can be a game changer in their economy.

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Quote from: Vaculin on November 18, 2022, 01:04:46 PM

Quote from: mk4 on November 17, 2022, 02:04:14 AM

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.

Yes, its not a big deal anymore as El Salvador has been buying a lot of bitcoin already even when the market is still not in dip. So if they will start accumulating more bitcoin these days, i think that will be a lot better because they can certainly increase their purchase that will be a lot more advantageous when the market suddenly turns bullish. When everyone else in the crypto market will celebrate, for sure El Salvador is on top on it.

This is just the opportunity for El Salvador to cover up their accumulative losses, such that when bitcoin gets bullish they will run into massive profits. We should not forget that El Salvador got their first bitcoin buy during the last bull run when bitcoin was above $50k. They became the mainstream of criticism when bitcoin crashed, the idea of daily DCA is a good one to accumulate large amount of bitcoin in a less intensive means.

While ordinary people are planning to own 1 BTC for life, there is a country somewhere buying 1 BTC daily, I am afraid that bitcoin will finish o Grin

. ThankGod I have secured my own fraction that made me a millionaire in Bitcoin.

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Quote from: ?? on ??

No time limit? And what if tomorrow the price is $30K, will they still be buying every day? Bukele are running a tactic.
I'm prejudiced, looks like he has already bought a lot from a few weeks/months ago and just waiting for the bull run. He tweeted to make it look like there was an "oasis" and people rushed to buy so the price goes up soon this year, going to $30K at least. Sell and buy again when the correction comes. Let's see how far it goes.

I don't think with Bukele is trader with selling Bitcoin when reaching higher price maybe $30,000 based on with how many Bitcoin assets still hold, he has priority keep holding and make Bitcoin bigger investment assets in the future and right now effective purchase or invest with 1 Bitcoin every day. True or not with Bukele have purchased when Bitcoin in dip price I think he keeps hold until Bitcoin reach most highest price than last all time high price.
He has consistency keep holding Bitcoin for long term and not like with daily day trading just earn few percent profit only, he will tries how long can hold and invest with Bitcoin until reach highest price not stuck on $30,000 only but also he want to see Bitcoin above previous all time high price.

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Quote from: mk4 on November 17, 2022, 02:04:14 AM

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.

Yes, its not a big deal anymore as El Salvador has been buying a lot of bitcoin already even when the market is still not in dip. So if they will start accumulating more bitcoin these days, i think that will be a lot better because they can certainly increase their purchase that will be a lot more advantageous when the market suddenly turns bullish. When everyone else in the crypto market will celebrate, for sure El Salvador is on top on it.

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Quote from: NotATether on November 18, 2022, 03:32:20 AM

<…> I am curious to know what is the total bitcoin reserves of El Salvador, because a few 10s of millions of dollars capital gain isn't going to help any government much.

Including today’s alleged 1 BTC purchase, 2382 BTCs so far, according to Nayib Tracker. That matches other totals I have from other sources, so it seems correct, and the site is visually appealing to track these purchases.

What will differ from one source of tracking to another is the cost price per purchase, since we don’t have and exact date/time to pinpoint each purchase. If no precise information is provided for a given purchase, this site uses the average market price for the day the purchase was made on, using data pulled from blockchain.com. Cost is therefore an estimate.

Note: We have to exercise and act of faith (lacking any real additional transparency on the matter) that all the purchases are still in control of El Salvador.

Ale88

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Usually every time ES and its president say they are going to buy bitcoin, or they announce that they already bought it, the price goes down, so I really hope that from now on we won't have a new ATL every single day after their purchase Grin

GiftedMAN

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Quote from: Ahli38 on November 17, 2022, 04:24:06 AM

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! 🇸🇻.

Nayib's action to buy bitcoin every day is a good move because buying at the current price of $16k right now and a lower amount which we may likely experience before the end of the year according to some charts will give him the double amount of his purchasing capital when we hit the bull run in 2023 hopefully. One thing to note about Nayib's tweet is that it will motivate a lot of people bitcoin believers who have been cold to continue investing in bitcoin due to the fear of lost of funds which may be experienced due to the current price, I believe more people will join the bold step of Nayib to buy more bitcoin including me because I don't want to miss out during the next bull run.

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Quote from: NotATether on November 18, 2022, 03:32:20 AM

That means 365 bitcoin in a year, or about 730 before the next halvening really kicks in.

Assuming an average buying price of $20K for each coin bought, that means he's putting in over $70 million of additional Bitcoin that is expected to appreciate in profits.

I am curious to know what is the total bitcoin reserves of El Salvador, because a few 10s of millions of dollars capital gain isn't going to help any government much.

This was my thoughts also, since it is a nice symbolic gesture but for a country it is more or less not even on the balance sheets. If you consider how many people live in El Salvador, they are basically investing a few cents per person with every bitcoin they buy. Still they send a good signal to the markets which I like.

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Quote from: stompix on November 17, 2022, 11:49:07 AM

Quote from: Lucius on November 17, 2022, 05:15:26 AM

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.

NotATether

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That means 365 bitcoin in a year, or about 730 before the next halvening really kicks in.

Assuming an average buying price of $20K for each coin bought, that means he's putting in over $70 million of additional Bitcoin that is expected to appreciate in profits.

I am curious to know what is the total bitcoin reserves of El Salvador, because a few 10s of millions of dollars capital gain isn't going to help any government much.

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Quote from: romero121 on November 17, 2022, 05:17:39 PM

Quote from: Sanitough on November 17, 2022, 04:45:36 PM

Quote from: bittraffic on November 17, 2022, 02:51:25 AM

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.

Nayib is just like any ordinary addict that keeps on chasing on his addiction, but good thing his addiction in bitcoin will never benefit only himself but eventually all the people in his country. So I believe everything Nayib does in this bearish season, it’s a well planned from the start. And yes, when everything is perfect with bitcoin, El Salvador will be the first country to rejoice because of the billions of profits probably they will surely gain.

Anything towards addiction is harmful. In that way we can't consider it to be an addiction. What El Salvador President Nayib Bukele have over bitcoin is the trust. He believes in the growth and this growth is beneficial for everyone. Investing 1BTC everyday is a good thing. Unlike the market going for regular buying makes it to be more interesting. Even now someone will make criticism over the decision, which he never minds as he holds the trust over bitcoin in all situations which is the best thing out of him.

Haha, yes this is not an addiction, addiction is a harmful symptom when you love something and spend too much money on it without any benefit to you. For bitcoin, he is investing in the future of his country and he chooses bitcoin because he knows that it is the future of the world.

Although facing stiff opposition from other countries, it is admirable that he ignored all and continued with his choice. Maybe bitcoin will not make El Salvador rich, but at least it will help them get rid of their dependence on the dollar and open up a different future for them.

RAppleby

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It is correct to buy Bitcoin now, although it may be in a bear market for some time to come. As we enter the bull market, some people will regret not buying bitcoin now. This is a show of courage.

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That's great way of utilising the investment fund like by investing daily in bitcoin but I would say if they have reserve fund and plans to hold it for long term they should invest one big amount at these discounted price which they can do so because they might not get another opportunity to accumulate more bitcoins at these prices in future.But yes if they are planning to go with DCA method then also it's good option because they are making the move.

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Quote from: Chilwell on November 17, 2022, 01:56:25 AM

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

A bill was passed by El Salvador's president to make Bitcoin legal tender, so such a move is quite common. There are those who understand his decision, and there are some who do not; but the President of El Salvador has already made up his mind. They still have a trust in bitcoin despite the 2-year low, no matter what the rest of the world says. His visionary mind may inspire him to keep investing as opportunities await. After adopting Bitcoin as legal tender, Bitcoin has proven to be beneficial for economies.

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Quote from: Chilwell on November 17, 2022, 01:56:25 AM

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

That's good reaction by an investor who knows things about possible recovery to happen and its good to see how El Salvador president reacts to current condition because for sure once we see a great recovery they can recover their past losses but as well they cam get a big earnings for their country. Good to know that they still have a trust on bitcoin despite of the dumps happen on it and for sure in future all their efforts made will be paid.

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one of the good news , I've read it and this motivates me and people who are still afraid of the effects of the FTX problem, elsavador took a good step to raise btc from an early age so that when the bulls come at the beginning they can get profits

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Quote from: Sanitough on November 17, 2022, 04:45:36 PM

Quote from: bittraffic on November 17, 2022, 02:51:25 AM

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.

Nayib is just like any ordinary addict that keeps on chasing on his addiction, but good thing his addiction in bitcoin will never benefit only himself but eventually all the people in his country. So I believe everything Nayib does in this bearish season, it’s a well planned from the start. And yes, when everything is perfect with bitcoin, El Salvador will be the first country to rejoice because of the billions of profits probably they will surely gain.

Anything towards addiction is harmful. In that way we can't consider it to be an addiction. What El Salvador President Nayib Bukele have over bitcoin is the trust. He believes in the growth and this growth is beneficial for everyone. Investing 1BTC everyday is a good thing. Unlike the market going for regular buying makes it to be more interesting. Even now someone will make criticism over the decision, which he never minds as he holds the trust over bitcoin in all situations which is the best thing out of him.

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Quote from: pooya87 on November 17, 2022, 05:39:50 AM

Quote from: Lucius on November 17, 2022, 05:15:26 AM

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 Tongue

I like this - we shouldn't nit-pick all his decisions regarding Bitcoin, he on behalf of El Salvador
is investing in Bitcoin and is buying, not selling, it's all positive. At a time when governments
and central banks are playing things to suit themselves and trying to mend the mistakes
they have made in the not so distant past, Bukele is still bullish on Bitcoin.

The only thing I find a bit questionable that it's only going to be 1 Bitcoin per day, I would
have thought they could buy more but yea they are not the most financially stable of countries.

Sanitough

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Quote from: bittraffic on November 17, 2022, 02:51:25 AM

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.

Nayib is just like any ordinary addict that keeps on chasing on his addiction, but good thing his addiction in bitcoin will never benefit only himself but eventually all the people in his country. So I believe everything Nayib does in this bearish season, it’s a well planned from the start. And yes, when everything is perfect with bitcoin, El Salvador will be the first country to rejoice because of the billions of profits probably they will surely gain.

tabas

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In short, El Salvador is going to DCA - EVERYDAY. Tongue

Well, an act like this will be copied by other investors that are unsure of the market and haven't experienced the past bear markets. Looking at huge people like Bukele and other popular investors broadcasting their move about buying bitcoin. It's the encouragement that they're looking for so, I honestly think that it's a good idea that he has said this vocally on his Twitter account for others to have a reference on what they must do right now.

Russlenat

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Quote from: pooya87 on November 17, 2022, 02:29:04 AM

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).

We all know how El Salvador is taking advantage of buying bitcoin, so this is not really new to us. In fact, this is the perfect time to accumulate more bitcoin, while the price of bitcoin is currently very down because of the current issue on FTX. But I just hope that everything they do will paid off in the future, as they always prioritize bitcoin over their fiat.

ingiltere

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He should've started this long ago but that's a step forward anyway. El Salvador's average BTC cost is still too high, this would be a good idea and he will reap what he sow in the long run. Despite being a small country, they challenged the whole world by buying BTC as a country. Now they must stand behind their actions. Instead of selling at a loss, waiting for the next bull market and increasing their reserves will bring them back into the news.

famososMuertos

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Quote from: Oilacris on November 17, 2022, 03:59:15 PM

Quote from: famososMuertos on November 17, 2022, 03:55:24 PM

[

If there is that point under consideration, but he is there to make decisions and he may be charged as embezzlement, then he may be the first president to be charged with embezzlement leaving profits.

Many think that bitcoin goes up in price just because it is volatile, but gasoline is the trust, so to add volatility you have to find trust, that is what Bukele is doing, whatever, that they judge him in the future will be interesting, especially if bitcoin by that time the price is higher than the initial purchase price. Cool

Anguwa

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Quote from: Chilwell on November 17, 2022, 01:56:25 AM

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

Upon hearing this news, I began to consider how I might acquire funds to make my own investment. El Salvador is a country like any other, but they are doing a great job adopting Bitcoin. I believe they will be the first in the world to make Bitcoin legal tender, and I am hopeful the President is making the right decision by investing in Bitcoin for the nation at this low price. Once Bitcoin returns to normal value or surpasses its all-time high, I am positive that this will change the country's economic situation.

Oilacris

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Quote from: famososMuertos on November 17, 2022, 03:55:24 PM

I think the signal is not that what is seen a priori, that is, El Salvador buys a btc/D is who join the call, it is a politician with limitations but who can use his position of "leadership" or spokesperson to motivate individuals and add excitement to the market, well maybe it's not much, but at least the guy tries something.

I think the idea is to join, it is the message behind this tweet, the issue here is not the amount or if it is a strategy x, The issue is to give confidence.

Despite of the negativity that we do have around on this market then having these kind or type of actions did really give out that kind of positivity which is really he might be that pertaining into.

Purchasing out 1 btc per day isnt something a feat that you could do on your own which it is understandable that if he's still on that position then he could really do on what he do have in mind considering

that he had the funds on doing so.Dont know on what the citizens views and reactions towards this bullish action made out by their president.For sure lots of questions
had been raised in regarding this action.

famososMuertos

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LE ☮︎ Halving es la purga

I think the signal is not that what is seen a priori, that is, El Salvador buys a btc/D is who join the call, it is a politician with limitations but who can use his position of "leadership" or spokesperson to motivate individuals and add excitement to the market, well maybe it's not much, but at least the guy tries something.

I think the idea is to join, it is the message behind this tweet, the issue here is not the amount or if it is a strategy x, The issue is to give confidence.

Fivestar4everMVP

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I saw this news ealier today on twitter, and i must say that the president's confidence is bitcoin is quite commendable, this is a country that currently owns over 2000 bitcoins bought at an average price of about $45,000 per bitcoin, which if compared to the price of bitcoin today, this investment have recorded over $65M loss or very close to this..

The whole FTX issue have brought the price of bitcoin down to where it currently is today, so i believe the price right now is good enough for any one that bought it at a higher price to DCA in, the price of bitcoin wont remain this low for a long time so indeed, it a wise decision the president made.

so98nn

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Quote from: mk4 on November 17, 2022, 02:04:14 AM

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.

El Salvador definitely had bought at very high prices in the past so yes this is the option for them. In fact they must have planned it intentionally to safeguard their investments and bring up the national reserves of bitcoin at good price.

Quote

El Salvador’s Bitcoin Holdings Lose 60% of Their Value in Crypto Selloff
Country has 2,381 Bitcoin that are now worth $41.5 million
Finance Minister says government hasn’t sold any Bitcoin

What caused them to incur the losses worth 60% (which is definitely serious stuff) is the thing which will help them recover their losses. That is buying at the discounted rates.

Not very long they also lost around 40-57% valuation back in July month as well.

They are literally bagger and serious hodler for sure. I think they must keep it that way, possibility they will be in good position after rakeback.

Bobrox

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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.

kryptqnick

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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).

stompix

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Quote from: Lucius on November 17, 2022, 05:15:26 AM

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.

spectre71

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Blending his average down while pledging confidence in bitcoin. Smart.

They haven't lost a dime because they didn't sell.

Asiska02

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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.

Lucius

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Quote from: PrivacyG on November 17, 2022, 07:12:25 AM

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.

348Judah

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Quote from: Chilwell on November 17, 2022, 01:56:25 AM

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.

Quote from: Chilwell on November 17, 2022, 01:56:25 AM

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.

Quote from: Chilwell on November 17, 2022, 01:56:25 AM

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.

Pandu Geddon

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Activity: 826

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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.

PrivacyG

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Quote from: Lucius on November 17, 2022, 05:15:26 AM

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?

-
Regards,
PrivacyG

Die_empty

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Quote from: yazher on November 17, 2022, 05:52:06 AM

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.

Leviathan.007

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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.

Victorik

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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.

MarjorieZimmermanGinger

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Quote from: Chilwell on November 17, 2022, 01:56:25 AM

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.

yhiaali3

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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.

yazher

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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.

LGD2Business

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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.

Nrcewker

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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.

fuguebtc

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Quote from: Accardo on November 17, 2022, 03:19:47 AM

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?

pooya87

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Quote from: Lucius on November 17, 2022, 05:15:26 AM

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 Tongue

LFC_Bitcoin

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Quote from: mk4 on November 17, 2022, 02:04:14 AM

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.

ethereumhunter

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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.

Lucius

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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.

Quote from: Accardo on November 17, 2022, 03:19:47 AM

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?

NeuroticFish

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Quote from: Chilwell on November 17, 2022, 01:56:25 AM

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. Cheesy

PrivacyG

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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

RockBell

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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.

sunsilk

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Quote from: Chilwell on November 17, 2022, 01:56:25 AM

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=HHwWgMDQzZmn8JssAAAA

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.

Ahli38

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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! 🇸🇻.

Accardo

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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.

bittraffic

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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.

pooya87

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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).

mk4

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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.

Chilwell

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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

Topic: *El Salvador To Start Purchasing Bitcoin Everyday* (Read 753 times)

Topic: El Salvador To Start Purchasing Bitcoin Everyday (Read 753 times)