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Viva "El Dictator"

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@acesontop
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Bitcoin is having its best bear market ever, "according to analysts", but there's no bear market for Nayib Bukele, the president of El Salvador who has just added 150 new Bitcoin to the country's "Bitcoin national treasure". He didn't had laser eyes for nothing it seems.

The purchases are tiny when put aside with Microstrategy but El Salvador is the first nation to hold 700 BTC. I don't know who Bukele's crypto advisor is, but he's not FOMOing when the prices are high, he simply buys dips and engages in "crypto presidential advices" on twitter.

Ironically he has even changed his bio to Dictador de El Salvador. It's probably a political move for the ones fueling the protests in the country against the law which made Bitcoin legal tender over there.

The Chivo wallet, El Salvador's native crypto wallet has now 1.1 million users out of the total 6.5 million El Salvadorians and the country Now Ranks Third in Global Bitcoin ATM Installations.

The country whose Bitcoin law became effective on September 7 now has a total of 205 Bitcoin ATMs installed, making the chunk of the 290 ATMs on record for the entirety of South America. Notably, the United States has the largest number of Bitcoin ATMs with a total of 23,897 (86.4% of the total number of global installations). The Europe region tracks next to the US, with a total of 1,280 or 4.6% of the total global ATM outlets worldwide. source

I bet IMF is proud of Nayib Bukele :D

“It looks that we will be able to bank more people in the space of month than [previous governments] did in 40 years with the nationalization and privatization of traditional banks.”

Lets just hope Nayib won't get shot, as it happened with JFK, for this one. The man clearly proves to not only have balls, but also a vision for the country's wealth and prosperity. El Salvador is far from being a great economy in the world and since Bitcoin has managed to change lives for the individuals all around the world why not offer the chance to a whole nation to have access to it.

That happens when you have young individuals that grew up with technology at the palm of their hands running a country. The old farts of the establishment are fighting Bitcoin by all means, because they're afraid of loosing the current control over printing money and influencing the economies they have.

Seven days ago Bitcoin was $44,000 and now testing the same level after a short uptrend to a bit over $48,000. Is this healthy? Does it do what the charts point at and is it on track on repeating previous patterns? I don't know and I don't really want to know because I simply don't care.

Crypto is on a whole new level than it was in 2013 and 2017 and I find no meaning in comparing this cycle, if we're still in a four years cycle with what we had along its one decade current history. The mass adoption is real and the development wheels are spinning at higher speed. Zoom out, buy the dip if you will and ignore the noise. Have a great week ahead and see you to the next one.

Thanks for attention, Adrian

Posted Using LeoFinance Beta