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? I am aware that the possibility of that is low since El Salvador has always expressed interest towards bitcoin but just hypothetically, how much would bitcoin be affected if El Salvador does not show support any more?
At some point in time El Salvador will definitely consider selling some of their Bitcoin as that is the essence of the investment in the first place. When this happen, I don't think it will cause any ripple effect because the quantity of Bitcoin held by El Salvador is insignificant compare to the quantity of Bitcoin in circulation. Their sell orders will only cause minor retracement that will not last for long because their is rarely any entity thar will move the market so much.