And they continue to notify us about their new investment in bitcoin. How much bitcoin did they buy, and when did they buy it? How much did they spend on the average price of a bitcoin?
Nobody knows for sure as the only proof for that is Bukele licking the dip each time, and each time after the comes to congratulate himself for the buy the price drops more. Quite ironic taking into account how bitcoin was supposed to bring transparency and stuff like that for governments.
As for the debt, even if BTC goes to zero, the amount is negligible even for Salvador, 1800 coins make roughly $60m spent, by comparison, they have issued bonds worth 400 million to finance their yearly deficit from government spending. They wanted 1.3 billion from the IMF also, when you're that much in debt already 60 million is nothing and unless BTC goes to 500k it won't matter either way.
The bad part in this is that if the country really gets into trouble because of constant deficits everyone will point the finger at BTC as a cause when it's clearly not the case.
On top of that, they themselves have claimed that they had taken FIAT from the Trust to pay for the Pet Hospital and a bunch of schools, at a time when BTC was high and they had a conceptual surplus on the books (FIAT+BTC). Now the price drop plays against them on both fronts (BTC devaluation and FIAT usage when there is currently no surplus).
Not a problem, two pics of laser eyes and any issue is solved.
How you set up a fund in $ to buy BTC and then from that fund you spend profits in $ from something that is losing value but without selling BTC is beyond me.
