-snip-
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?
The truth is that there is no way you will share the history of Bitcoin today without mentioning the impact of El Salvador no matter how little because it's the number one country attached to Bitcoin even as Bitcoin has helped the name of the country to be known the more and mentioned daily and has also improved its tourism which wouldn't have been possible without legalizing Bitcoin. Upon these, nothing sizable will happen if El Salvador sells its Bitcoin, they have too little to drive the market insanely lower.
But this is only a small part of the impact that will be caused because even though in the end El Savador will still be known as a country that does adopt bitcoin but in the end when they release the bitcoin they have the situation remains the same in terms of influence because this will only have an impact for the short term so it will not cause any turmoil for the long term because when their short impact is felt in the market after that it is forgotten just like some cases of other countries selling their bitcoin such as Germany some time ago or some news about China that banned bitcoin and legalized bitcoin again.
The impact will still not be as big as expected for the long term because after all bitcoin will remain the same without being affected by everything related to the benefits of one party even though it cannot be denied that there must be an impact but we don't need to worry about it for the longer term because everything will be the same as usual.