El Salvador Will Keep Buying 1 Bitcoin Daily Until BTC 'Becomes Unaffordable' With Fiat Currencies, Says President Bukele – Featured Bitcoin News
news.bitcoin.com
- El Salvador will continue buying 1 Bitcoin daily until it becomes unaffordable with fiat currencies
- President Bukele's statement highlights commitment to cryptocurrency adoption
- Move demonstrates belief in Bitcoin's long-term value and potential as a global currency alternative.
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What does ‘unaffordable with fiat currencies’ even mean? This guy knows you can divide BTC right?
The headline said 1BTC, so I take it to mean "until the price of 1BTC is too high to buy with real money". They're not saying they'll buy $66000 worth of bitcoin per day indefinitely, just 1 whole bitcoin per day, regardless of how the price fluctuates, for as long as that's viable.
El Salvador doesn't have its own currency; they use USD and recently bitcoin. I don't know enough to say whether this makes sense.
Right but you're missing the point. It doesn't matter if 1 BTC costs $1,000,000 when you can just buy 0.0001 BTC for $100. They would need to drive the cost of 1 BTC into the quadrillions of dollars before it would become even remotely unfeasible to purchase.
Depends on the budget he decided to put into this.
At the end it's investing, he has decided let's say a budget of 200k per day on this, he will but 1 full btc until the price of 1 btc is 200k. After that probably the money will go on something else.
Yeah, I haven't been able to parse what that phrase means in a real sense.