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?
If El Salvador stop supporting Bitcoin, I believe it will only temporarily FUD the market making the sentiment negative but I do no think that it will crash the price of Bitcoin to a great extent. Remember it is not only El Salvador that is supporting Bitcoin. There are also other country, due to their politician being positive towards Bitcoin, also shows supports which probably has more influence or greater effect that what El Salvador have to Bitcoin market.
Have you not thought @OP, El Salvador failed to push Bitcoin price to this extent even thought they have been acquiring BTC for years. El Salvador influence to the Bitcoin market was easily overtaken by Trump's support to Bitcoin when he won the election
Exactly. El Salvador is a big asset for bitcoin, but know that we have also many countries and big financial institutions that are supporting bitcoin. So if El Salvador will start selling their coins and stop buying bitcoin, but that won’t stop other countries as well from buying bitcoin. There will only be temporary FUD and price crash, but after that, everything goes back to normal and even challenge bitcoin price to surge high again. Bitcoin is transparent and flexible, we don’t need to worry whenever price drops because eventually it will definitely recover again and reach another all time high.