Quote from: ChrisPop on Today at 03:16:25 AM

Quote from: Husires on July 14, 2022, 04:21:13 PM

I can understand that El Salvador embraced Bitcoin but their way of investing was so haphazard as if they had never consulted anyone who is an expert in financial analysis or good at reading charts.

I remember that there was a chart of the purchase dates and it all seemed random without a solid economic plan as the price collapsed several times after the purchases.

Currently and historically, the price is ideal for investment, but we did not hear more investments, which reflects the economic situation in that country.

I'm sure that the president has access to councilors in regards to managing the country's finances. But you've got to understand that no one can predict what will happen to the price. You can be the biggest financial advisor in the country, you still don't have a crystal ball in your pocket. Anyways, I don't think the 1771 BTC the country owns represent a significant amount in its treasury.

Anyways El Salvador is not in a 'rosy' situation having 82.6% of GDP in debt. For every $1 of GDP they have to pay around 5 cents just to cover the interest (~5%). In comparison, the United States only pays ~1.6% of GDP in interest expenses.

Bitcoin is unpredictable, it can be said that they are unlucky to buy at higher than current prices and i also believe they have a plan for the current market situation. We are retail investors and we are aware of the volatility of bitcoin, then as president and have a financial advisory board El Salvador will definitely do better than us.

This is an ideal time to buy more bitcoins but given the world situation, I think countries will focus their resources on solving upcoming difficulties rather than investing.