El Salvador President Nayib Bukele urged the cryptocurrency community not to panic amid the market crash. According to him, the fall is quite standard and market participants need to be patient.
Nayib Bukele, an ardent supporter of bitcoin, decided to share his advice with the cryptocurrency community, some members of which clearly succumbed to panic amid the market crash. According to him, there is nothing wrong with the fact that the bitcoin rate fell below $20,000 for the first time in a year and a half.
I see that some people are worried or anxious about the #Bitcoin market price.
My advice: stop looking at the graph and enjoy life. If you are invested in #BTC your investment is safe and its value will grow immensely after the bear market.
Patience is the key.
— Nayib Bukele (@nayibbukele) June 19, 2022
“I see that many are worried and very nervous about the market price of bitcoin. My advice: stop staring at charts and enjoy life. If you bought bitcoins, then your investment is safe. And after the end of this bearish cycle, the BTC rate will grow powerfully. Patience is gold,” Bukele wrote on Twitter.
El Salvador’s president’s advice elicited a mixed community response. Many commented that the bitcoin-buying country is in a “pretty bad loss” as the vast majority of BTC was purchased at a significantly higher price. Other users called on Bukele to finally launch the promised Bitcoin-backed bonds. Now, according to them opinionexcellent time for this.
Salvadoran Finance Minister Alejandro Zelaya also joined the discussion. According to him, no current losses have been recorded, so the country has not lost anything yet. However, the floating loss from investing in BTC is about $40 million.
Earlier, Zelaya emphasized that the fall of the cryptocurrency market will not affect the economy of the state in any way.
Source: Bits
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