The president of Bitcoin country El Salvador tried to spread positive sentiment in the Bitcoin community amid huge corrections in Bitcoin price.
El Salvador is the first country in the world, which adopted Bitcoin as a currency in September 2021. During the increment in the price of Bitcoin, the country saw huge development works but now the downfall in the price of Bitcoin is giving confidence to the Bitcoin critics to talk against the government of El Salvador’s decision to invest in Bitcoin.
On 19 June, Nayib Bukele, president of El Salvador, took to Twitter and said that people who invested in Bitcoin should stop seeing the graph of Bitcoin price.
Further, Nayib said that all investments in Bitcoin are safe because bitcoin will grow for sure in the future.
“I see that some people are worried or anxious about the #Bitcoin market price…(..).My advice: stop looking at the graph and enjoy life. If you invested in #BTC your investment is safe and its value will immensely grow after the bear market…(..)…Patience is the key.”
In response to this tweet from the El Salvador president, Bitcoin critic Peter Schiff tweeted and claimed that advice by Nayib is bad because he is suggesting buying top.
Further, Schiff said that how the investment in Bitcoin can be safe as it already lost its value by 85%.
One another user responded to Nayib’s suggestion and asked for the launch of Bitcoin-backed bond, to allow the citizens to invest in Bitcoin indirectly via traditional bonds.
The majority of the people supported El Salvador’s president but there were a few people, who criticized him badly for his suggestion to go with BITCOIN investment. A Twitter user said that the suggestion by Nayib to invest in Bitcoin at the top impacted the lives of many people.