Sincerely, it is a nice feat for El Salvador and many countries are still observing their performance since the adoption of BTC as a legal tender.
One reason El Salvador has done well since the adoption of BTC is that it mines BTC and they spend not so much on energy demand for the mining machines because it is powered from an active or once active volcano.
President Bukele is courageous to have put his fate and that of an entire nation in the promise of a better economy with crypto/BTC adoption and use as legal tender for transaction and trades.
Topic: Two years ago today, El Salvador adopted Bitcoin as legal tender - page 3. (Read 358 times)
September 07, 2023, 12:31:23 PM
September 07, 2023, 12:05:29 PM
Today makes it two years since El Salvador made bitcoin a legal tender in the country.
You can always posted this on the El-Savador's mega thread bitcoin adoption here https://bitcointalksearch.org/topic/el-salvador-has-become-the-first-country-to-make-bitcoin-legal-tender-5342087 there have been alot already being seen with how bitcoin adoption had made the entire story of El-Savador change around in many ways, you don't have to go there yet before you can have the idea of the kind development going on with bitcoin adoption in El-Savador, Central African Republic was the second country to make bitcoin a legal tender after El-Savador and we look forward to seeing more countries with bitcoin adoption as legal tender.
September 07, 2023, 11:56:01 AM
Today makes it two years since El Salvador made bitcoin a legal tender in the country. Since the adoption of bitcoin in that country. The president of the country Nayib Bukele has accumulated about 2381BTC which he has spent $101 million for the purchase with an average purchase price of $43,357. The price is down by 40% which the BTC price now worths $61 million today.
Even as this is happening, the president is not compelled or pressured to sell them off, but still optimistic about the future of bitcoin and will likely love to add more to the bitcoin savings until a target 100,000 BTC by 2024 is met. Will this approach, confidence and doggedness by the president of El Salvador make other countries to follow his footsteps. No one has loved and gave much confidence in bitcoin as a government like him, and I admire and respect him for that a lot. We hope other countries leaders will follow and trail on his path.
https://bitkan.com/learn/how-much-bitcoin-does-el-salvador-own-in-2023-the-risks-16511
If only he wanted to sell bitcoins! Almost double loss. If he did this, the presidential chair would immediately find a new owner. Even as this is happening, the president is not compelled or pressured to sell them off, but still optimistic about the future of bitcoin and will likely love to add more to the bitcoin savings until a target 100,000 BTC by 2024 is met. Will this approach, confidence and doggedness by the president of El Salvador make other countries to follow his footsteps. No one has loved and gave much confidence in bitcoin as a government like him, and I admire and respect him for that a lot. We hope other countries leaders will follow and trail on his path.
https://bitkan.com/learn/how-much-bitcoin-does-el-salvador-own-in-2023-the-risks-16511
But it is curious to know how the whole country stores bitcoin. It would not happen that when Nayib Bukele wants to sell bitcoin, there will be no access to the wallet with BTC.
I am not sure that El Salvador is a role model for other countries and their presidents, because El Salvador took this step with the purchase of bitcoin not from a good life.
September 07, 2023, 11:52:37 AM
Today makes it two years since El Salvador made bitcoin a legal tender in the country. Since the adoption of bitcoin in that country. The president of the country Nayib Bukele has accumulated about 2381BTC which he has spent $101 million for the purchase with an average purchase price of $43,357. The price is down by 40% which the BTC price now worths $61 million today.
Even as this is happening, the president is not compelled or pressured to sell them off, but still optimistic about the future of bitcoin and will likely love to add more to the bitcoin savings until a target 100,000 BTC by 2024 is met. Will this approach, confidence and doggedness by the president of El Salvador make other countries to follow his footsteps. No one has loved and gave much confidence in bitcoin as a government like him, and I admire and respect him for that a lot. We hope other countries leaders will follow and trail on his path.
https://bitkan.com/learn/how-much-bitcoin-does-el-salvador-own-in-2023-the-risks-16511
Even as this is happening, the president is not compelled or pressured to sell them off, but still optimistic about the future of bitcoin and will likely love to add more to the bitcoin savings until a target 100,000 BTC by 2024 is met. Will this approach, confidence and doggedness by the president of El Salvador make other countries to follow his footsteps. No one has loved and gave much confidence in bitcoin as a government like him, and I admire and respect him for that a lot. We hope other countries leaders will follow and trail on his path.
https://bitkan.com/learn/how-much-bitcoin-does-el-salvador-own-in-2023-the-risks-16511
Good things take time! The president of El-Salvador knows that and that's why he is not worried about this previous purchases. Bitcoin has a lot of potential left and we are still standing at a very nascent stage of adoption. As the adoption continues to grow, the more bitcoins are mined, the price will go on higher.
But what El-Salvador can do, bigger countries can't do that easily. El-Salvador has a very limited population and it's easy to manage. So it's easier said that done.
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September 07, 2023, 11:44:20 AM
The bitcoin was in the middle of a bull market, which lasted two and a half more months, and from there, downwards. I look forward to seeing what happens with the next bull market not only in general, but also how it affects El Salvador. It seems that people on the street don't use it much but companies and bitcoiners have gone there, the most famous being I think Max Keiser.
With the volatility it has, I doubt people are going to prefer it to the dollar as a currency but I hope the next bull run will encourage more Salvadorans to save in bitcoin.
With the volatility it has, I doubt people are going to prefer it to the dollar as a currency but I hope the next bull run will encourage more Salvadorans to save in bitcoin.
September 07, 2023, 11:39:35 AM
Today makes it two years since El Salvador made bitcoin a legal tender in the country. Since the adoption of bitcoin in that country. The president of the country Nayib Bukele has accumulated about 2381BTC which he has spent $101 million for the purchase with an average purchase price of $43,357. The price is down by 40% which the BTC price now worths $61 million today.
Even as this is happening, the president is not compelled or pressured to sell them off, but still optimistic about the future of bitcoin and will likely love to add more to the bitcoin savings until a target 100,000 BTC by 2024 is met. Will this approach, confidence and doggedness by the president of El Salvador make other countries to follow his footsteps. No one has loved and gave much confidence in bitcoin as a government like him, and I admire and respect him for that a lot. We hope other countries leaders will follow and trail on his path.
https://bitkan.com/learn/how-much-bitcoin-does-el-salvador-own-in-2023-the-risks-16511
Even as this is happening, the president is not compelled or pressured to sell them off, but still optimistic about the future of bitcoin and will likely love to add more to the bitcoin savings until a target 100,000 BTC by 2024 is met. Will this approach, confidence and doggedness by the president of El Salvador make other countries to follow his footsteps. No one has loved and gave much confidence in bitcoin as a government like him, and I admire and respect him for that a lot. We hope other countries leaders will follow and trail on his path.
https://bitkan.com/learn/how-much-bitcoin-does-el-salvador-own-in-2023-the-risks-16511
I believe they would if they see El Salvador is sitting on top of a Bitcoin treasury large enough in value to not take any added loans from the Cabal behind the IMF and the World Bank. It starts there, and there could also be the possbility that El Salvador would encourage and provide Bitcoin loans to their South American neighbors and discourage them from taking loans from the IMF and the World Bank. Breaking down political strongholds.
September 07, 2023, 11:28:22 AM
There were pros and cons to his decision to legalize Bitcoin as legal tender in this central American country, but I really sympathize and want to say, Congratulations to El Salvador and salute Nayib Bukele as a young president who has a strong commitment to advancing the economy through Bitcoins.
Bukele continues to take steps in terms of Bitcoin, including initially not forcing citizens to use Bitcoin. For his courage to see the future with Bitcoin deserves appreciation.
Bukele continues to take steps in terms of Bitcoin, including initially not forcing citizens to use Bitcoin. For his courage to see the future with Bitcoin deserves appreciation.
September 07, 2023, 11:20:45 AM
~ he has spent $101 million for the purchase~
Even as this is happening, the president is not compelled or pressured to sell them off,
According to Google the El Salvador GDP past two years were $28.74 and $31.6 billion, and government revenues in 2021+2022 was $12.6 billion with no budget deficit. This means investing $101 million or 0.16% of GDP or 1/5 of the left over budget of 2022 into bitcoin is nothing and there is no need to sell it off!Even as this is happening, the president is not compelled or pressured to sell them off,
Instead bitcoin is acting as the reserve currency of the country in the long run. In fact I believe they should dump more of their left over budget into bitcoin now that there is a much bigger discount and bitcoin is undervalued.
September 07, 2023, 11:09:01 AM
These things take years to come to fruition if not decades. They are sitting on a high avg but now and in the short future they can blend it down if they have the cash. BTC exist there alongside the US dollar so I think they will be okay. Countries (the people) with out of control inflation stand to gain the most. The thing to watch is how evil entities like the IMF treat them.
September 07, 2023, 11:02:49 AM
Today makes it two years since El Salvador made bitcoin a legal tender in the country. Since the adoption of bitcoin in that country. The president of the country Nayib Bukele has accumulated about 2381BTC which he has spent $101 million for the purchase with an average purchase price of $43,357. The price is down by 40% which the BTC price now worths $61 million today.
Even as this is happening, the president is not compelled or pressured to sell them off, but still optimistic about the future of bitcoin and will likely love to add more to the bitcoin savings until a target 100,000 BTC by 2024 is met. Will this approach, confidence and doggedness by the president of El Salvador make other countries to follow his footsteps. No one has loved and gave much confidence in bitcoin as a government like him, and I admire and respect him for that a lot. We hope other countries leaders will follow and trail on his path.
https://bitkan.com/learn/how-much-bitcoin-does-el-salvador-own-in-2023-the-risks-16511
Even as this is happening, the president is not compelled or pressured to sell them off, but still optimistic about the future of bitcoin and will likely love to add more to the bitcoin savings until a target 100,000 BTC by 2024 is met. Will this approach, confidence and doggedness by the president of El Salvador make other countries to follow his footsteps. No one has loved and gave much confidence in bitcoin as a government like him, and I admire and respect him for that a lot. We hope other countries leaders will follow and trail on his path.
https://bitkan.com/learn/how-much-bitcoin-does-el-salvador-own-in-2023-the-risks-16511
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