So… El Salvador just found 3 trillion dollars worth of gold and Nayib Bukele is saying they’re going to dilute the hell out of the gold market while insinuating that they’ll spend the money on buying Bitcoin. Not sure this passes the sniff test, but if true it could propel Bitcoin into the millions easily…
https://x.com/nayibbukele/status/1866245123786326271mmm nice lets cross our fingers for it to happen.
@ jjg I will always keep some. as time goes on I will likely stop mining. but coins should have big value when I do that.
At least 7 digits a coin.
Be honest. You couldn’t stop mining if you wanted to. It’s beyond habit at this point.
If it is true (and it still remains to be seen), Bukele could use part of that $3T gold to secure the $1.3B loan he needs so badly, rather than bending over backwards to please the IMF by modifying the law that makes bitcoin legal tender.
El Salvador to Change Bitcoin Payment Law for $1.3 Billion IMF Loan
My vague understanding now is that it isn’t a new discovery, they were aware of it, but they have never accessed it and passed laws to leave it alone. This is supposedly Bukele’s attempt to rally people to be ok with him changing the laws to mine the gold. I got this information from random people on X though, so it could be completely wrong.