As BTC started trading below $18,000 for the first time since November 2020, El Salvador’s President Nayib Bukele, the self-declared Bitcoin President who helped Bitcoin become legal cash in the Latin American country, addressed the growing concerns of investors.
Remember that on September 7, 2021, El Salvador made Bitcoin legal tender, at a market price of about $50,000.
Since then, as Bitcoin surged to its all-time high of about $69,000, the government of Bukele has seen a large return on its initial BTC investments. This money was then used to fund the nation’s many infrastructure development programmes.
Bukele, however, made the decision to give guidance to other Bitcoin investors who might be worried about the protracted bear market as tensions increase amid declining BTC prices.
“I see that some people are worried or anxious about the #Bitcoin market price. My advice: stop looking at the graph and enjoy life,” he tweeted.
He promised investors that recovery is unavoidable, noting that “If you invested in #BTC your investment is safe and its value will immensely grow after the bear market. Patience is the key.”
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