Post
Topic
Board Bitcoin Discussion
Re: El Salvador, the failed experiment
by
coupable
on 05/03/2025, 23:30:28 UTC
From my submission above, it is obvious that El Salvador made some mistakes in that they are poor and do not have enough money yet they put some in bitcoin which means basic needs have not been met. They did not have emergency funds in place which is a signal that their investment is not guaranteed to last.
From the beginning of the experiment, I thought that El Salvador would convert part of its reserves into Bitcoin, not accumulate additional reserves in Bitcoin. What is happening now is that El Salvador is working to secure additional reserves in Bitcoin, which is what strong economies that generate surpluses and are able to continue the experiment over the long term are supposed to do. Despite all of this, El Salvador’s investment in Bitcoin has succeeded in calculating the cost and the price difference compared to today’s prices.