Apparently Bukele bought another "Dip" according to his last tweet, but there's something that I don't get in this move, let me explain.
How could someone consider a 44k resistance a dip?....right now we are in a period of retracement after a big upward move started in July; I wouldn't have been as comfortable as him investing so much money (remember that we are talking about one of the poorest countries in the world) with the probability of a massive bearish crackdown that could take us back to the 29k level.
I know that could be a "long time holder" move, but he has a reputation to defend, with a skeptical and poor population living in awful conditions, so, in my opinion, we have two possible cases:
1) He is a fool and apparently is comfortable with making such a risky move (a long bearish period can still be a possibility).
2) He probably knows (please don't take me as a conspiracy theorist, I'm just trying to imagine) that someone is gonna start another bull run soon, 'cause El Salvador attracted the attention of many big crypto investors, so a confrontation between Bukele and them about this topic is not so unlikely.
Let me know your opinion about this.
He is not really much of a politician, he is just chasing the media headlines that come with buying into Bitcoin - good or bad it doesn't really matter as long as his name gets into more worldwide news streams. In a wold where people like to read up on extremes rather than accept that life can be rather mundane maintenance, this sort of politician is just trying to stand out. Unfortunately these strategies tend to be very short term, focusing on the next election cycle rather than setting up a proper long term fiscal policy. He has gone from one currency that his country has no control over (the US dollar) to two currencies now that Bitcoin have been made official tender.