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- Nayib Bukele is clearly stating that people really overreact to the price fluctuations in the stock market. And these fluctuations, especially in the case of bitcoin, are killing people from the inside.
- El Salvador started purchasing bitcoin as early as 2020 and has a treasury of 2300 bitcoins.
- Famous critic Peter Schiff—aggressively opposes Bitcoin’s future by claiming that there will be a future of cryptocurrencies, but bitcoin won’t be a part of it.
El Salvador Being Bullish On Bitcoin
As we all know, Bitcoin dipped below the 20,000 USD Mark on June 18. It installed fear in a lot of investors and bitcoin optimists.
And why not? After all, the most famous cryptocurrency in the world became a victim of the bear market. With the falling market capitalization of bitcoin, and fear spreading among bitcoin investors, here’s what the president of El Salvador, has to say regarding the crash:
I see that some people are worried or anxious about the #Bitcoin market price.
— Nayib Bukele (@nayibbukele) June 19, 2022
My advice: stop looking at the graph and enjoy life. If you invested in #BTC your investment is safe and its value will immensely grow after the bear market.
Patience is the key.
In the above-mentioned tweet, Nayib Bukele is clearly stating that people are really overreacting to the price fluctuations in the stock market. And these fluctuations, especially in the case of bitcoin, are killing people from the inside.
He advises people to stay calm and enjoy their lives, and also that their investment in bitcoin is safe if they remain patient.
Wait! Time For Some Criticism
The point of concern among the residents of El Salvador is that:
El Salvador’s Bitcoin investments have gone down by… any guess??
MORE THAN 50%!
El Salvador was one of the first movers in the bitcoin industry. This statement is in reference to the fact that they started purchasing bitcoin as early as 2020 and have a treasury of 2300 bitcoins.
“Where there are followers, there are critics”.
One of the most popular bitcoin critics Peter Schiff also got something to say regarding El Salvador’s bitcoin optimism.
A lot of people in the #crypto industry are saying that this crash is a healthy shake-out. I agree that it's healthy, but not for crypto. That industry as we know it is dead, which is very healthy for the economy. Crypto likely has a future, but #Bitcoin will not be a part of it.
— Peter Schiff (@PeterSchiff) June 18, 2022
He aggressively opposes Bitcoin’s future by claiming that there will be a future of cryptocurrencies, but bitcoin won’t be a part of it.
This debate between El Salvador’s president Bukele and Peter Schiff is a never-ending story. It is only a matter of time before we come to know who is really right among the two.