Nayib Bukele expressed: “El Salvador just bought 410 Bitcoin for only 15 million dollars.”
Here is how the community reacted: That means you wasted over $36,500 per Bitcoin. If you want to make bad bets on Bitcoin, do it with your own money. Why didn’t you include in your tweet how many Bitcoins you HODL, and how much money you have already lost. I warned you not to buy the last dip. Don’t buy the next. If you think there is a long term for Bitcoin No, There is no long-term for Bitcoin. In the long-term the price will be zero. So, it’s all about short-term trading and getting out in time.
Nayib Bukele the president of El Salvador invested $85 million into 1800 Bitcoin and lost $20 million to date by Jan 21st 2022. It’s a long-term investment and he’s going to see it appreciate at least 5-10x in the next decade.
One thing for sure is that Bitcoin is here to stay and is good for developing countries.
What gives anything any value? Dollars are a construct made of paper. Bitcoin is a digital construct that cannot be inflated or controlled by the govt. and banks. Dollars losing value because of printing. I don’t believe the govt. I do believe in a Satoshi/dollar parity.
Let me guess, you “HODL” through 70% gains? A Ponzi is a Ponzi regardless of how high it goes; the overinflated unusable currency will eventually pop.
Bitcoin’s historical average for a liquidation dip is ~50%. So, hitting ~$60k and retesting ~$30k is perfectly normal. Amazing opportunity to jump in.
It’s a good time to buy Bitcoin. Maybe finally you will be smart enough to buy the future. But then again there has been haters for the light bulb, cars, and phones.
Let him dollar cost average all the way to 90% down. Long run he will still be richer for it. Attractive investments to me have volatility because it means I can always get discounts here and there.
I think it will go very strongly upwards in the future.
Is the CEO of El Salvador, an elected Prez? How will you stop flight of Bitcoins used to pay salaries, purchase goods or services for the nation? Where will he find fiat money for next tranche of Bitcoins? What all can these 410 Bitcoin provide to the people of El Salvador?
Cryptos have the value that a pack of gamblers are willing to bet on it. They all have zero utility.
How can u lose money if you don’t sell? I guess if it goes to zero and never comes back.
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