Post
Topic
Board Bitcoin Discussion
Re: How Influential El Salvador Is?
by
BALIK
on 25/12/2024, 03:16:15 UTC


Which got me to think about the possible consequences if El Salvador were to ever announce that it is selling its bitcoins and plans to never buy any more?

When El Salvador announced that it would accept bitcoin as legal tender, it created a huge buzz and attracted a lot of attention to them. But that news didn't have the same significant impact on bitcoin as the ETFs approval or Michael Saylor buying bitcoin. So I don't think them selling bitcoins will have a significant impact or cause panic in the market.

After all, they are just investors in the market and the amount of bitcoin they hold is insignificant enough to put much pressure on the market. Furthermore, Bitcoin can exist and develop to this day thanks to the trust of the community in it, it does not depend on any individual or organization, including Michael Saylor or El Salvador. Bitcoin will still exist and thrive without them.