• About
  • Coincu
  • Hot topics
  • Random
  • Exchange
  • Dotscan
Saturday, July 2, 2022
CoinCu News
No Result
View All Result
  • Login
  • Home
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • Defi
    • GameFi
    • NFTs
    • Metaverse
    • Web 3
  • Crypto Recap
  • Video
  • IDO Events
    • Airdrop
  • Scam Alert
  • Live Prices
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
  • Home
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • Defi
    • GameFi
    • NFTs
    • Metaverse
    • Web 3
  • Crypto Recap
  • Video
  • IDO Events
    • Airdrop
  • Scam Alert
  • Live Prices
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
No Result
View All Result
CoinCu News
No Result
View All Result
Home News

El Salvador’s President Uses Bitcoin To Address Bear Market Concerns

June 19, 2022
in News
386
92
SHARES
3.1k
VIEWS
Share on Facebook

Harmony Raises The Prize 10 Times To Reclaim Stolen Tokens

Crypto Hacks Are Declining In Numbers But Increasing In Damage

BTC became legal tender in El Salvador on September 7, 2021, when its market price was around $50,000. Since then, as Bitcoin rose to an all-time high of $69,000, Bukele’s government has gained considerable returns on its initial BTC investments, which have been reallocated to the country’s many infrastructure development efforts.

El Salvador's President Uses Bitcoin To Address Bear Market Concerns
El Salvador’s President Uses Bitcoin To Address Bear Market Concerns

However, as emotions build in the face of declining Bitcoin prices, Bukele has decided to offer advice to fellow Bitcoin investors who may be concerned about the market’s prolonged bear market.

As Bitcoin (BTC) began trading for less than $20,000 for the first time in 18 months.

Nayib Bukele, the president who helped Bitcoin (BTC) achieve legal cash status in El Salvador, addressed investor worries

El Salvador's President Uses Bitcoin To Address Bear Market Concerns
El Salvador’s President Uses Bitcoin To Address Bear Market Concerns

I see that some people are worried or anxious about the #Bitcoin market price.

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.

— Nayib Bukele (@nayibbukele) June 19, 2022

In his tweet, Bukele advised fellow investors to “stop looking at the graph and enjoy life.” He reassured investors about an inevitable comeback, stating that:

“If you invested in #BTC your investment is safe and its value will immensely grow after the bear market. Patience is the key.”

The advise was met with varied reactions from the community, with many pointing out that El Salvador obtained the majority of its BTC at a far higher price than the current market value. While detractors predict that BTC and other cryptocurrencies will continue to decline, on-chain analytics point to Bitcoin’s return to its former glory.

Among the many ideas made to Bukele by the crypto community during the bear market is the issuance of Bitcoin Bonds.

I see that some people are worried or anxious about the #Bitcoin market price.

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.

— Nayib Bukele (@nayibbukele) June 19, 2022

As the world watches El Salvador’s Bitcoin economy, the country’s finance minister, Alejandro Zelaya, denied claims that the country had lost more than $40 million, saying:

“I have said it repeatedly: A supposed loss of 40 million dollars has not occurred because we have not sold the coins.”

“There is a clear criticism of Bitcoin as such, not of El Salvador’s approach” Zelaya said in answer to a journalist’s inquiry regarding El Salvador’s reaction to Bitcoin’s precipitous drop.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

CoinCu News

President Nayib Bukele Announces A Meeting Of 44 Countries In El Salvador To Discuss Bitcoin

El Salvador Roasted at The US Over Anti-Bitcoin Adoption Policy, Game On!

Moody’s Downgrade El Salvador Sovereign Debt Due To Bitcoin Trades, and El Salvador’s President Response.

Tags: #Bitcoin#MarketsBear marketBear Market ConcernsBTCBTC investmentsBukele's governmentcryptoEl SalvadorNayib Bukeleprice
Previous Post

Israel and Hong Kong Team Up to Test Digital Currency Cyber Risk

Next Post

Crypto Market Highlights June 19, 2022

Other Posts

Meta Has Decided To Shutter Crypto Wallet Application Novi
News

Meta Has Decided To Shutter Crypto Wallet Application Novi

July 2, 2022
Ignite Cuts 50% Of Staff Along With The Resignation Of The CEO
News

Ignite Cuts 50% Of Staff Along With The Resignation Of The CEO

July 2, 2022
Voyager Digital Suspends Trading, Sediments, And Withdrawals
News

Voyager Digital Suspends Trading, Sediments, And Withdrawals

July 2, 2022
Binance CEO Claims That In Recent Crypto Deals, It Had First Choice Over FTX
News

Binance CEO Claims That In Recent Crypto Deals, It Had First Choice Over FTX

July 2, 2022
BlockFi Admits To Borrowing $400 Million From FTX
News

BlockFi Admits To Borrowing $400 Million From FTX

July 2, 2022
Three Arrows Capital Filed For Chapter 15 Bankruptcy In New York
News

Three Arrows Capital Filed For Chapter 15 Bankruptcy In New York

July 2, 2022
Next Post
crypto market

Crypto Market Highlights June 19, 2022

  • CoinFLEX Exchange Cancels The Plan To Open Withdrawals For Users

    CoinFLEX Exchange Cancels The Plan To Open Withdrawals For Users

    107 shares
    Share 43 Tweet 27
  • A Closer Look at the Utility of BNB. The King of Utility

    120 shares
    Share 48 Tweet 30
  • Trading For Beginners 101- The Most Powerful Candlestick Patterns Use In Crypto (P2)

    99 shares
    Share 40 Tweet 25
  • Ethereum Weekly Recap | Mar 23rd – 29th, 2022

    107 shares
    Share 43 Tweet 27
  • Ethereum Weekly Recap | May 30th- June 5th, 2022 

    105 shares
    Share 42 Tweet 26
Harmony Raises The Prize 10 Times To Reclaim Stolen Tokens

Harmony Raises The Prize 10 Times To Reclaim Stolen Tokens

July 2, 2022
Crypto Hacks Are Declining In Numbers But Increasing In Damage

Crypto Hacks Are Declining In Numbers But Increasing In Damage

July 2, 2022
Meta Has Decided To Shutter Crypto Wallet Application Novi

Meta Has Decided To Shutter Crypto Wallet Application Novi

July 2, 2022
Ignite Cuts 50% Of Staff Along With The Resignation Of The CEO

Ignite Cuts 50% Of Staff Along With The Resignation Of The CEO

July 2, 2022
The Last Quarter Of Bitcoin Was The Worst In Almost A Decade

The Last Quarter Of Bitcoin Was The Worst In Almost A Decade

July 2, 2022
Voyager Digital Suspends Trading, Sediments, And Withdrawals

Voyager Digital Suspends Trading, Sediments, And Withdrawals

July 2, 2022
What Is Crypto Custody?

What Is Crypto Custody?

July 2, 2022
Binance CEO Claims That In Recent Crypto Deals, It Had First Choice Over FTX

Binance CEO Claims That In Recent Crypto Deals, It Had First Choice Over FTX

July 2, 2022
BlockFi Admits To Borrowing $400 Million From FTX

BlockFi Admits To Borrowing $400 Million From FTX

July 2, 2022
XRP Ledger Witnesses 2-Year High Network Activity

XRP Ledger Witnesses 2-Year High Network Activity

July 2, 2022
  • Live Prices
  • Binance
  • NFT
  • Solana
  • Polkadot
  • Metaverse
  • Polygon
  • Coinbase
  • Trending
  • Top Coin
  • Vi
  • DFH

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: [email protected]

No Result
View All Result
  • Coincu
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • Metaverse News
    • NFTs News
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
    • GameFi
    • NFT
    • Web 3
  • Crypto Recap
  • Video
  • IDO Events
    • Airdrop
  • Scam Alert
  • Live Prices
  • PR
    • Press Releases
    • Advertise
  • Dotscan

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: [email protected]

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In