The country of El Salvador continues to hold on to the Bitcoin market and continues to invest

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As many of you know, El Salvador became the first country in the world to adopt Bitcoin as legal tender, since the arrival of the current president Nayib Bukele, since then there have been many internal debates in this Central American country, especially due to the collapse of Bitcoin prices in recent months, after almost reaching the figure of 70 thousand dollars last year 2021.

In spite of all this, the long-term view is set, which is why the president of that country has announced our strategy, which consists of acquiring one Bitcoin daily, with the purpose of taking advantage of the circumstantial bear market of Bitcoin, and continue accumulating this asset until the waters return to their course to return to a price above 50 thousand dollars.

This country has shown confidence in the cryptocurrency market, especially Bitcoin, this country accumulates a little more than 2,380 Bitcoin, many Bitcoin analysts estimate that so far the investment portfolio of El Salvador in Bitcoin presents a deficit of about 60%, considering the overall average purchase of each of its Bitcoin since the very moment of its incursion into this volatile market.

But volatility is what makes resume the purchase of Bitcoin by the head of state of El Salvador, if there is a propitious time to acquire Bitcoin in precisely now, with everything that happened with the FTX Exchange, thus lowering the average purchase of its Bitcoin digital assets, and the strategy aims to make purchases of one Bitcoin a day, if the market still continues to decline.

If this bear market continues, many Bitcoin would be acquired by the state of El Salvador in the coming months, waiting for the next upward cycle to bring its Bitcoin portfolio back to positive numbers, and analyze new strategies in the future of Bitcoin prices.

Large capital gains are obtained by taking decisions that include risks, the cards are already dealt for this Central American country, they only need to continue accumulating Bitcoin, and take a great leap forward over the rest of the countries in the region and the world.

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Hi @anyelina93.

Actually the Salvadoran authorities see BTC for their country as a futuristic business, they have bought in several opportunities, one of the first purchases was with a market close to 40k if I remember correctly, they in the next year may get to see big profits from this, or by 2024, it is only a matter of time, everything points that it has been a great initiative of the Salvadoran government.

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Hi @chucho27.

That is correct what you say, his vision is to the future, and according to reports from that country it is estimated that the Bitcoin purchased roll an average of 45 thousand dollars.

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