Basically El Salvador is doing what a lot of others do in silence. They are taking advantage of the discount and aim for the long term potentials after the drama ends. I'm curious as to how long they are going to continue buying 1 BTC/day or at least the dedicated budget (it would take 62 days to invest $1 million assuming fixed price).

Indeed, we are still early. Mr President of El Salvador is not concerned about the dollar value of bitcoin he just wants to accumulate bitcoin. Despite losing $70million, according to the article, he didn't relelent. He is a true bit coiner, he doesn't need to buy bitcoin only for profits but buying bitcoin for owning more bitcoin is his goal, I assume.

This is the original tweet: https://twitter.com/nayibbukele/status/1593113857261965312?cxt=HHwWgMDQzZmn8JssAAAA

It's for real and legitimate account and he said that they're going to start buying tomorrow. Honestly, I remember the Terra foundation as they were the other ones that have said that they're investing in bitcoin and buying it everyday.

But the difference is that, they're a project and Nayib Bukele is a president that has no foundation and it's just going to be held as an investment for the future.

Do we call this Dollar Cost Average or Bitcoin Cost Average?

Smart thing this man is doing.  Definitely something worth it in the long run.  I imagine there are going to be so many more bad news coming, it is always like this every bear run, so it is going to be a perfect opportunity for whoever is doing DCA or, in this case, BCA.

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Regards,
PrivacyG

This move is just a change of strategy that some will say is good, but I would say that it makes sense for an ordinary user who does not have enough money to make a big investment and is forced to buy in this way. El Salvador is a country that is not in the best economic condition, but I don't think that this way of investing will bring them any benefits - because buying 30 BTC today or doing it for a period of 30 days will not make a big difference, unless another crash happens.

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He is the president of the country and he does not buy Bitcoin with his own money, and the loss you are talking about is not his personal loss, but the loss of all the people who fill the budget of that country. It's easy to be a true believer if you're gambling with other people's money, right?

Every new investor has to learn a way that works for them. Maybe seeing their $ value decrease has given them a kick up the ass so they’ve now decided to change tactic by switching to DCA. As a nation, they are real pioneers so they just need to see what works for them.

In the next bull runs it will be clear that El Salvador have made a genius decision to adopt bitcoin.

No, he cares about USD value like all of us and at this point he decided to buy bitcoin because it is getting cheap. If he doesn't care about dollar value, he won't decide to buy from now on. Bitcoin is a long-term investment so it is completely normal for it to drop in price in the short term, as long as we don't sell it for less than the price we bought it, we never have to be relelent.

There is a truth that I think many people are denying, we invest in bitcoin for profit and nothing more important. Although many people say that using it is for the privacy it offers, do they really not care about its price?

I had read this news as well, I was just thinking of opening this thread when I saw that you opened it. I think Nayib Bukele has taken a very right step. It's a very logical move to buy 1 BTC every day instead of making bulk purchases at certain times. Thus, it can adjust its average better and not be affected by the drops much. Buying regularly is a strategy that I also use, of course, I can't buy it every day. But I'm trying to buy weekly. If you think that this is done nationwide, it would be a very good investment plan in the long run. I congratulate Bukele for the right choice.

This is a really bold decision from the President of El Salvador expressing his strong belief in Bitcoin, El Salvador is moving forward with courage in its decision to adopt Bitcoin, they really deserve to be applauded for such a good decision, they will surely reap later this right decision, it is very good to buy at these low prices even though the amount 1BTC per day is a bit low for a country's budget, but it could be that they think there might be a new low so they'll get a good DCA in the long run.
This news should encourage investors who are reluctant to buy bitcoin as it may be a last chance before the end of the year.