Re: El Salvador will be the richest country in the world in 8 years?
El Salvador has legalized Bitcoin in its country through legal tender. He was the first to legalize Bitcoin in his country and simultaneously set up several Bitcoin ATM. Statistics from the country's finance department show that they currently have 2,300 bitcoins in their coffers. The government of the country is very much in danger due to the extreme fall in the price of Bitcoin. Here if Bitcoin goes from 200k to 500k dollars but El Salvador will not be able to become the first richest country in the world. El Salvador will never come to the top of the world leaving behind many developed countries. This is completely ridiculous.
I wouldn't say El Salvador is at a loss, since the government hasn't sold a single Bitcoin yet. It is accumulating to sell once market prices go all the way to the moon. But I don't think El Salvador will become the richest country in the world, especially when developed countries wouldn't want to miss a piece of the pie. It could become the richest country in Latin America if it plays its cards right.
Everything will depend if Nayib Bukele stays in power. If another President is elected, then you can say bye-bye to the Bitcoin experiment for good. Who knows what the future holds for the country? Just my thoughts
