- El Salvador will continue buying 1 Bitcoin daily until it becomes unaffordable with fiat currencies
- President Bukele’s statement highlights commitment to cryptocurrency adoption
- Move demonstrates belief in Bitcoin’s long-term value and potential as a global currency alternative.
El Salvador Will Keep Putting $71,000 into the President’s Swiss Bank Account Daily
FTFY
Quadrupling down at this point, right? I feel like this will not end well for him.
He will be alright, the country not so much.
I have a hunch he is personally in charge of a large number of coins to guarantee his safety…or escape lol
And what happens if the government needs that money and Bitcoin price is down?
I don’t see how putting national reserves on such an inestable “asset” would be a good idea.
Worse, what happens if cybercriminals are able to successfully steal a large number of the countries bitcoin, or if they somehow lose access to their bitcoin wallet(s)?
He said ‘until it’s unaffordable’ I guess he’s using reserves like the way the US does on weapons and military, some of which isn’t even for them.
He’s investing in what he believes is a profitable investment. I’m guessing that he has financial advice from people that have studied this to a level that can understand it better than most people, and consider it a sound investment. With the intention at the other end being to use for the country. Everything accounted for, nothing going into senators back pockets, could be used to boost their health service and hospitals and whatever else. With countries less built up currently looking more favourable in the future, they’re already in a good position.
As opposed to their national currency… oh, wait! :D
Venture capitalist Tim Draper believes that bitcoin will transform El Salvador into one of the wealthiest nations in the world
Or one of the poorest? To the moooon 🔻
If this is legit and not corruption and bitcoin eventually takes off to ungodly levels, imagine the biggest bet in history paying off and their country turns around as an economic powerhouse. Risky and stupid but would make a good movie.
The only thing keeping them a powerhouse would be a number on a computer that can be stolen. Question is, would people try to steal from a nation rich enough to be a powerhouse and how sophisticated would those theft attempts be?
I really wish for them to hit the jackpot and break the cycle, but so far, everything valuable in the region was quickly turned into poverty and famine. It’s like a bad magic trick.
cool, here’s the plan:
- see el salvador announcement
- buy one bitcoin
- wait for el salvador to buy a few bitcoins
- bitcoin price skyrockets to a few million
- sell your one 50k worth bitcoin for 500k dollars
- profit1!1!1!1!
Is that bill cipher in the flag?
🤣🤣🤣🤣
It’s kinda hilarious that the soft dictatorship and prison state that makes even America look like a prison abolitionist paradise isn’t what’s going to sink this idiot, it’ll be the fucking bitcoins
