Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
The president of El Salvador, Nayib Bukele, firmly believes that the “gigantic increase in the price of Bitcoin” is only a matter of time.
The president of El Salvador, Nayib Bukele, is one of the most fierce supporters of the Bitcoin. Not only because it made the Central American nation the first country in the world to become the play the role of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. legal tender or because he has bought with the nation’s money more than 1,500 BTC in a matter of six months or less. In addition, because it constantly refers to the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. by Twitter.
In early 2022 he said that would reach USD $100,000 this year . He now gives explanations as to why he is so convinced of the increase, despite the current bear someone who believes that prices in a given market will decline over an extended period. Such a person might be referred to as “bearish.” market.
According to Bukele, the main cryptocurrency is coming to a “gigantic price increase”. His argument is that there are more than 50 million millionaires in the world, while there are only 21 million million millionaires in the world. bitcoins . If all millionaires decided to own at least one millionaire each, they could each own at least one millionaire. Bitcoin, there wouldn’t be enough coins for all of them. Of course, in their view, this competition (i.e. more demand than supply) would trigger a huge price increase.
This is your tweet:
“There are more than 50 million millionaires in the world.
Imagine when each of them decides that they must own at least ONE Bitcoin.
But there will always be only 21 million Bitcoin
It’s not even enough for half of them.
A gigantic price increase is only a matter of time”.
There are more than 50 million millionaires in the world.
Imagine when each one of them decides they should own at least ONE #Bitcoin
But there will ever be only 21 million #Bitcoin
No enough for even half of them.
A gigantic price increase is just a matter of time.
— Nayib Bukele ???????? (@nayibbukele) January 31, 2022
It is worth noting that despite Bukele’s efforts, criticism of the investment made by El Salvador in Bitcoin have come from a variety of sources. For example, an international agency such as the International Monetary Fund, IMF, is convinced that the adoption of the cryptocurrency is a big problem for El Salvador, since it “involves major risks to financial and market an area or arena, online or offline, in which commercial dealings are conducted. integrity, financial stability and consumer protection.” A few days ago the agency asked the country cease to be considered legal tender.
Bitcoin has a current price tag of around USD $37,000, according to Cryptomarkets much lower than the price at which El Salvador purchased most of the bitcoins that he currently owns.
Fuentes: Twitter, archivo, Zycrypto
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