El Salvador introduced BTC as a legal tender on September 7, 2021, when its market price was around $ 50,000. Since then, Mr. Bukele’s government has made significant results on its initial investments in BTC, with bitcoin hitting an all-time high of $ 69,000, which has been redirected to the country’s various infrastructure development initiatives.
However, as tensions rise among falling BTC prices, Nayib Bukele decided to offer some advice to other bitcoin investors who may be worried about the long bear market.
Nayib Bukele, the chairman who helped bitcoin (BTC) achieve legal tender status in El Salvador, addressed growing investor concerns as BTC traded below $ 20,000 for the first time in 18 months.
I see that some people are worried or anxious about these #Bitcoin market price.
My advice: stop looking at the graph and enjoy life. If you invest in #BTC your investment is safe and its value will grow exponentially after the bear market.
Patience is the key.
– Nayib Bukele (@nayibbukele) June 19, 2022
I see some people worried or worried about the #bitcoin market price. My advice: stop staring 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.
– Nayib Bukele (@nayibbukele) June 19, 2022
In her tweet, Nayib Bukele urged her fellow investors to “stop staring at the chart and enjoy life”. He reassured investors about the inevitable outcome, saying:
“If you have invested in #BTC, your investment is safe and its value will increase significantly following the bear market. Patience is the key ”.
This advice has received mixed reactions from the public, as many have suggested that El Salvador has received most of its BTC at a price far above current market value. While critics expect BTC and other cryptocurrencies to continue their downward trend, chain data indicates that bitcoin will return to its previous glory.
Common recommendations made by the cryptocurrency community for Bukele in this mark market include the launch of bitcoin bonds.
If I could make a humble suggestion. Great time to send yours #Bitcoin jump
– Alistair Milne (@alistairmilne) June 19, 2022
If I can make a humble suggestion. This is a great time to launch your #Bitcoin bonds – Alistair Milne (@alistairmilne) June 19, 2022
READ ALSO: El Salvador finance minister says the country was not ‘suffering any losses’ due to bitcoin price crash
As the world follows El Salvador’s bitcoin economy, El Salvador’s finance minister Alejandro Zelaya has dismissed claims that the country has lost more than $ 40 million, saying:
“I have often said: An estimated loss of $ 40 million did not occur because we did not sell the bitcoins.”
In response to a reporter’s question about El Salvador’s reaction to the sharp decline in bitcoin, Zelaya responded by saying, “There is therefore a clear criticism of bitcoin, not El Salvador’s strategy.”
