So what is Bukele's merit? That he buys Bitcoins? And what does he do with them, actually? Nothing. They just sit in his wallet and that's it. Do you think that he will just spend them on the development of the country? Somehow I seriously doubt it. Something tells me that he will run away with this money when the time comes and live happily ever after. How many times has this happened in history and this will not be an exception.

El Salvador investment in bitcoin has been going on for years now and they didn’t stop even when the odds where against them and are forced to not invest fully into bitcoin. They even made bitcoin legal in the country but since they’re not a first class country, the adoption was not really felt, not really had a lot of effect in the bitcoin adoption on a worldwide level. This steps they’ve taken has started to show its relevance for them as they now have a very big reserve in their economy that will help to boost their economy in years to come from now. It is not too late for any country to take in their part but fear and uncertainty will be their setback especially countries that depends on other ones for their decisions, those third class countries in precise. El Salvador has really take a bold step and it’s better if all countries follow in their strive.

 I'm sure Central African Republic would be regretting their decision to abandon Bitcoin now because back when they followed El Salvador to adopt it as their legal tender in 2022, they had high hopes of it helping their very struggling economy but with so much internal and external pressures, had to drop the plan to make it work.
Nayib Bukele was hit with so much backlash when he did the same thing back in 2021 and now who's smiling? Imagine the same people who criticized his actions are now calling him smart.

What is $300 million compared to a debt of $24 billion? Even if the price of BTC rises x10 tomorrow, it still wouldn't help them get out of the abyss they've been in for several decades. What would have helped them is if they had a much more aggressive investment policy in BTC a few years ago when BTC was much cheaper - but instead the president decided to buy 1 BTC every day, which doesn't seem like a wise move today.

For that country, BTC is just one of a series of experiments they resort to in order to find a solution, but BTC is not a solution for the failed economy in a country destroyed by bribery, corruption and gang violence.

It's a shame that central African republic, had to abandon Bitcoin, I'm sure that they must be regretting that decision now that Bitcoin is bullish. It's not too late for them to have a rethink and adopt it again, Bitcoin has the potentials to keep reaching new ATH in the future. Bitcoin is an asset that can greatly benefit underdeveloped countries to have an avenue of generating income for their countries on the long term, hopefully more countries in this category will follow the footstep of El Salvador, and utilize the potentials of Bitcoin to grow their reserve. I applaud the proactive stride of El Salvador, president to think outside the box and adopt Bitcoin for his country, despite all the criticism that he faced.

It's a shame they failed to make bitcoin legal tender because they were the 2nd country in the world to do so. But as far as I know their economy has many internal problems and there are more important issues to solve than focusing on bitcoin investment. According to Vice, the country has a population of more than 4 million people, but only 14% of the population has electricity and only 11% of the population has internet access. So we can sympathize and empathize with them instead of laughing at them for the difficulties they are facing. Like us, how can we invest in bitcoin when we have no job, no steady income and a family waiting?



source: vice.com

When Nayib Bukele invested in Bitcoin, many criticized his government, thinking that the country would rather suffer losses from investing bitcoin. But when the country is now 100 percent profitable from investing, those critics in the country must now calm down. Nayib Bukele's visionary decision has shown them profit today, but it was not suitable at the time when the country invested. In terms of investment, an investor must take a decision based on prediction. If someone cannot predict the future, it is difficult for him to profit from the investment. Every one needs to develop a mentality that accepts the risk involved in investing.

Nayib Bukele bought 6,180 BTC at $44,739 per Bitcoin in 2021. That Bitcoin of $270 million has now reached $333 million. If at that time, the people of their country and the commentators had encouraged him to buy Bitcoin more, perhaps the amount would have been higher today.

But it does not end here, those who review the past history and use the present time correctly will definitely be profitable. At whatever level the price of Bitcoin is, its price will increase further in the future and El Salvador's profits will also continue to increase if they do not sell.

If the profit is unrealized, then how can we talk about receiving 100% of the profit?

It seems to me that if the invested money were spent on production, business, and, simply, hospitals, schools and educational institutions in the country, then we could talk about improving the country. That is, improving the real sector.

Well, yes. And instead of using the money to develop the real sector in developing countries, their deficit budgets will be spent on bitcoin.  

It's like a poor person spending his money on investing in bitcoin. You all here claim that only spare money should be invested in btc. So why do you suggest that poor countries invest in bitcoin when they already have little money?

The economy can be improved by producing something that is traded on the world market, not by speculation.

You won't blame a country that is being affected by so many factors that decides to drop Bitcoin because it looked as if they decided that it was better to focus first on their other problems; low economy, wars and lack of electricity than continue with their choice of accepting Bitcoin as a legal tender. If anything, investing in Bitcoin like Bukele did, even if it wasn't the amount that Bukele invested, they would have been benefitting from it dividends and it would have also solved their weak economy. Talk about using one stone to kill two birds.