Now it's time to buy more

May 28, 2022. No. 257

If we look at El Salvador and take into account that the price of BTC has dropped considerably since its last purchases, we could think that they are sad there because of this situation. The reality is that they are not, as they have full confidence that the price will eventually rise. The answer is only one: "Now it's time to buy more", revealed the deputy Dania González.

Cointelegraph, a prestigious newspaper in the world of investments and cryptocurrencies, did an exclusive interview with her, who is one of those responsible for El Salvador's policies regarding the adoption of BTC, in which I reveal how BTC has helped change people's lives and how the federal government, with the guidance of President Nayib Bukele, has been leveraging the resources invested in BTC to improve the economy.

On May 8, Bukele announced on Twitter that he had bought the dip, or what he and his team at least considered the crash to be. They bought another 500 BTC at an average price of $30,744 USD. Obviously, the fall was much greater and continues to be.

Dania refers to the fact that every investment has a cost and a benefit. It's time to wait for better times, where everything is green again as before.

"What Nayib Bukele did was buy Bitcoins and make a profit at a certain strategic moment," she said. "In cryptocurrencies, there are times when you can make a profit and there are times when you have to invest more. Now the cryptocurrency is down, this happens, it's normal, but right now instead of being sad, instead of thinking that you lost all your investment, it's time to buy more bitcoins because now the price is cheap, that's the strategy ". Dania Gonzalez.

According to González, El Salvador is already benefiting from the investments made in Bitcoin; She cited two ventures - a veterinary hospital and a public school - that were made possible by cryptocurrency. She explained:

"Bukele built a veterinary hospital to benefit the population where the services, any service for your pet, costs USD 0.25. Even an operation costs this amount and is accessible to the entire population. Bitcoin has become a benefit for the people. Now with the reserve that we have in Bitcoin, we must build 20 more schools. Before Bitcoin, to do this we had to approve projects, include them in the general budgets of the nation and use people's money for construction. Now, these works are they do thanks to all the benefits obtained with Bitcoin".

I also state that the strategy used by President Bukele has had a socioeconomic impact.

"This is the main reason why the president also buys Bitcoins," he said. "He does it to be able to generate benefits for social projects for the people [...] This is not just words, it is something tangible for the population because they can see that part of the public services are carried out thanks to the benefits of Bitcoin."

It even explains how the adoption of BTC as legal tender attracted new investors and companies from all over the world, strengthening the independence of traders.

"It opened up an opportunity for independent merchants to have a new payment gateway because the payment channels could be cash or they could be credit or debit cards," she said. "But if you go to a bank and want to request the [point of sale] to accept credit or debit payments, you pay an affiliation fee, you pay a commission that can be up to 9% for each purchase."

Bitcoin, on the other hand, "is a totally decentralized financing, there is no commission if the national wallet is used," she explained.

If El Salvador looks into BCH, imagine how easy could it be :)