Salvadoran President to Bitcoin Investors: Your BTC Investment Is Safe, Will Immensely Grow After Bear
El Salvador’s president offers some suggestions to bitcoin investors. Despite the bear market, he believes investments in the largest cryptocurrency are safe and are expected to “immediately grow.”
Despite BTC’s heavy sell-off, El Salvador’s president has spoken up about bitcoin investments.
Since September last year, El Salvador has purchased 2,301 bitcoins. El Salvador’s BTC investment has reportedly lost 50% of its value since bitcoin prices sank.
“I see that some people are worried or anxious about the bitcoin market price,” Bukele tweeted, stating:
My advice: stop looking at the graph and enjoy life. If you invested in BTC, your investment is safe, and its value will immensely grow after the bear market. Patience is the key.
As a result of the large bitcoin position on the country’s balance sheet, many people have expressed concern about El Salvador’s fiscal health.
Salvadoran finance minister Alejandro Zelaya dismissed concerns, declaring that the financial risks are extremely minimal. He added: “When they tell me that the financial risk for El Salvador because of bitcoin is really high, the only thing I can do is smile.”