Understand the implications of Bitcoin's downfall in El Salvador. Learn about the failed economic bet and its impact on the country's financial stability.
El Salvador apparently invested about $270 million in bitcoin since 2021 and that investment is worth about half a billion bucks now. Oh my god, ha, what idiots!
i don’t understand why you dorks are laughing when i advocate for the use of tulips as legal tender. i’ll have you know that i recently cashed out during the height of this latest tulip bubble! you rubes are simply jealous of the treats i can now buy and the very coherent and good point i’m making.
they could have bought rolling 16x futures on gold in or 5x on cacao beans in 2021, just saying, with better success chance and lower risk. The fact that you won (allegedly) in casino doesn’t make you smart, it makes you lucky, it’s bonkers to do for a country
El Salvador apparently invested about $270 million in bitcoin since 2021 and that investment is worth about half a million bucks now. Oh my god, ha, what idiots!
… Okay just to clarify, you’re saying they invested $270,000,000 and now it’s worth about $500,000?
I know you’d like to characterize it as dumb luck because that would make you feel better. The reality is that I’ve been making small monthly bitcoin purchases for the better part of a decade as a part of a much larger retirement fund.
When the btc price hit $100k, I sold most of the initial investment so that now I’m just risking losing part of my gains.
You can call it lucky and incredibly stupid. I can call it calculated risk.
i remember laughing at crypto nerds about this a few years ago, but who’s laughing now?
me, still
El Salvador apparently invested about $270 million in bitcoin since 2021 and that investment is worth about half a billion bucks now. Oh my god, ha, what idiots!
Do you know what’s better than roses on my piano? Tulips on my organ.
Wow you are funny. How many years has this act been going on?
now do nvidia
I can’t say I understand the bitcoin hate in this thread. I have very real, realized gains.
Your meme should say, “I love working for minimum wage at Wendy’s”
they could have bought rolling 16x futures on gold in or 5x on cacao beans in 2021, just saying, with better success chance and lower risk. The fact that you won (allegedly) in casino doesn’t make you smart, it makes you lucky, it’s bonkers to do for a country
You seem pretty smart. They should probably put you in charge.
thanks 😉
… Okay just to clarify, you’re saying they invested $270,000,000 and now it’s worth about $500,000?
Is there a typo in your comment or something?
Yes, there was. Thank you.
That feels incredibly off. Bitcoin is around 100k now while back then it topped out at ~65k or so?
They didn’t buy it all at once. The price dropped between then and now and they were buying. Wikipedia has an entry on it.
I’m not an expert on El Salvador’s bitcoin, I just know you all sound like a bunch of sore losers.
The initial numbers made it look like they lost a bunch. It seemed like misinformation.
Just because you had luck doing something incredibly stupid doesn’t mean it was a good decision
I know you’d like to characterize it as dumb luck because that would make you feel better. The reality is that I’ve been making small monthly bitcoin purchases for the better part of a decade as a part of a much larger retirement fund.
When the btc price hit $100k, I sold most of the initial investment so that now I’m just risking losing part of my gains.
You can call it lucky and incredibly stupid. I can call it calculated risk.
So you’re rich because others also bought into the completely unproductive ponzi scheme. Go brag somewhere else, loser.
You’re all mad because you lost money investing in bitcoin when it was pumping and then selling during a crash. Don’t worry, it’s safe with me.
Source?
https://dig.watch/updates/el-salvador-profits-as-global-bitcoin-holdings-rise
Crypto prices from a few years ago were hilariously low. Keep laughing tho!