El Salvador President Nayib Bukele convinces the crypto community that Bitcoin is rallying and will achieve new highlights. The head of state simply recommends enjoying life.
Nayib Bukele on Bitcoin: “Don’t worry”
El Salvador President Nayib Bukele reassures citizens that the current bear market is not the end for Bitcoin (BTC). It advises bitcoin investors not to worry and be patient.
“I see some people worried or anxious about the bitcoin market price.
My advice: stop looking at the graph and enjoy life. If you have invested in BTC, your investment is safe and its value will increase significantly after the bear market. Patience is the key. “
El Salvador is the first country to accept Bitcoin as a legal tender. The country has collected more than 2,300 bitcoins since last November. Your total investment is down more than 62%.
Still, the Minister of Finance and the President of El Salvador seem to have confidence in the country’s Bitcoin investments. While the president advises to sit back and wait patiently for bitcoin to rally again, El Salvador’s finance minister addresses the problems of the price reduction.
However, Minister Alejandro Zelaya argues that the loss is 62%. there is little financial risk to the country. It says:
“When they say that the fiscal risk in El Salvador is very high because of Bitcoin it’s the only thing that makes me laugh and I think any serious economist should do the same because analysis over they are superficial and speak only out of ignorance. “
Shark Tank investor Kevin O’Leary agrees
Kevin O’Leary, billionaire investor Shark Thank, Agrees with President Bukele. O’Leary spoke to Business Insider about his approach to the bear market.
So he does not believe that this is the end of Bitcoin. Instead, the current negativity will eliminate unnecessary projects and make room for the good projects that emerge.
He says his investments in Bitcoin, Ethereum (ETH) and a few other Web3 projects have doubled. This equates to a total of 32 jobs in the digital assets market.
He agrees that some projects will not last. But those who survive will have great results. It says:
“I do not sell anything. In the long run all you have to do is tolerate it. You need to be aware that there will be fluctuations and some projects will not work. ”
So, like President El Salvador, O’Leary is not involved. He says the market will continue to fall and projects will be canceled until it is bottomed out.
O’Leary does not predict when the bear market will finally recover. But he says the market will go harder and higher as soon as it hits a rock bottom.
O’Leary concludes and explains why he’s not worried. Even without knowing what will happen to each project, the entire encryption market will only grow in the future because of the people working on it. The investor:
“Look at the MIT grade class of engineers. The smartest people want to work on the blockchain. So you have most of the best intellectual capital in the world to fix bad chain results – why not work? ”
Text credit: Cryptoslate
Last updated on June 21, 2022
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