$BTC
El Salvador’s Bitcoin stash tops 7,800 BTC
Everyone else fears a dip,
but Bukele buys BTC like he’s clocking in 😂
Holy crap,
guys,
the moment the market dips,
someone immediately starts yelling that the bear market is here.
But El Salvador just keeps stacking coins,
like it’s clocking in for work every day.
As of October 18,
the Salvadoran government’s publicly disclosed Bitcoin holdings had surpassed 7,800 BTC.
The latest reports put the figure at around 7,808 BTC,
with a total value of about $638 million.
This small country embraced Bitcoin in 2021
and was also the first country in the world to make BTC legal tender.
It’s still steadily adding to its reserves.
What’s even funnier is
that it keeps stacking BTC
while also having to deal with the International Monetary Fund (IMF).
The IMF previously made it clear
that, aside from documented private donations,
it did not expect El Salvador to increase its Bitcoin holdings.
In plain English, it was saying El Salvador shouldn’t use public funds to buy Bitcoin.
At the time, lots of people said the buying would probably stop.
But guess what?
This clever move came out of left field.
The government said the new additions came from private donations.
In other words,
an increase in the holdings doesn’t mean the government paid for every single coin.
So they can keep buying,
as long as it’s not funded by the national budget.
That’s a seriously slick move.
I think
this latest increase is quite small
and is mainly a positive signal for market sentiment.
Its short-term impact on the price is limited,
so it won’t trigger an immediate moonshot.
Still, it’s pretty interesting to see a country willing to keep BTC in its long-term asset portfolio.
But government holdings don’t mean there’s no risk of losses.
They can still lose money,
and Bitcoin can keep falling just the same.
Anyway,
guys,
if it were you,
and you had some money you wouldn’t need for a long time,
would you dare to keep stacking coins like El Salvador?
#萨尔瓦多比特币持仓突破7800枚
El Salvador’s Bitcoin stash tops 7,800 BTC
Everyone else fears a dip,
but Bukele buys BTC like he’s clocking in 😂
Holy crap,
guys,
the moment the market dips,
someone immediately starts yelling that the bear market is here.
But El Salvador just keeps stacking coins,
like it’s clocking in for work every day.
As of October 18,
the Salvadoran government’s publicly disclosed Bitcoin holdings had surpassed 7,800 BTC.
The latest reports put the figure at around 7,808 BTC,
with a total value of about $638 million.
This small country embraced Bitcoin in 2021
and was also the first country in the world to make BTC legal tender.
It’s still steadily adding to its reserves.
What’s even funnier is
that it keeps stacking BTC
while also having to deal with the International Monetary Fund (IMF).
The IMF previously made it clear
that, aside from documented private donations,
it did not expect El Salvador to increase its Bitcoin holdings.
In plain English, it was saying El Salvador shouldn’t use public funds to buy Bitcoin.
At the time, lots of people said the buying would probably stop.
But guess what?
This clever move came out of left field.
The government said the new additions came from private donations.
In other words,
an increase in the holdings doesn’t mean the government paid for every single coin.
So they can keep buying,
as long as it’s not funded by the national budget.
That’s a seriously slick move.
I think
this latest increase is quite small
and is mainly a positive signal for market sentiment.
Its short-term impact on the price is limited,
so it won’t trigger an immediate moonshot.
Still, it’s pretty interesting to see a country willing to keep BTC in its long-term asset portfolio.
But government holdings don’t mean there’s no risk of losses.
They can still lose money,
and Bitcoin can keep falling just the same.
Anyway,
guys,
if it were you,
and you had some money you wouldn’t need for a long time,
would you dare to keep stacking coins like El Salvador?
#萨尔瓦多比特币持仓突破7800枚