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El Salvador Will Keep Buying 1 Bitcoin Daily Until BTC 'Becomes Unaffordable' With Fiat Currencies, Says President Bukele – Featured Bitcoin News(news.bitcoin.com)

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  • 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.
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dutchkimble@lemy.lol
5 points

Say he achieves his goal (which doesnt make any sense but lets ignore that), what then? The day they need to encash it and they start selling the price will crash

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fruitycoder@sh.itjust.works
2 points

I don’t think the plan is to sell it but to be able make accept payments of good and services in it.

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protozoan_ninja@sh.itjust.works
4 points

Who’s going to be buying and using Bitcoin if it’s not affordable?

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Mango@lemmy.world
4 points

🤣🤣🤣🤣

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asudox@lemmy.world
11 points

cool, here’s the plan:

  1. see el salvador announcement
  2. buy one bitcoin
  3. wait for el salvador to buy a few bitcoins
  4. bitcoin price skyrockets to a few million
  5. sell your one 50k worth bitcoin for 500k dollars
  6. profit1!1!1!1!
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Fisch@discuss.tchncs.de
2 points

That might be exactly what he’s trying to achieve by announcing it like this. Kinda sounds like a pump and dump tbh.

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neutron@thelemmy.club
45 points

Whatever your thoughts on cryptocurrency might be, this is borderline gambling addiction.

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Agent641@lemmy.world
17 points

Just put the whole economy on black.

No, red!

NO, BLACK!

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