After the major correction in the crypto markets, the value of Bitcoin (BTC) declined below the $50,000 level, and El Salvador’s president, Nayib Bukele, announced that they had bought Bitcoin from the bottom.
The anti-Bitcoin Peter Schiff responded with a tweet after Nayib Bukele announced that they had purchased Bitcoin.
https://twitter. com/PeterSchiff/status/1467007915949187074
“More lows coming. How many more taxpayers are you planning to waste their money on?”
Bukele responded to Schiff’s statement. He previously said that they should buy Bitcoin instead of gold:
https://twitter. com/nayibbukele/status/1467216871846027274
“Never.
In less than 24 hours, we are in the green after our last purchase.
Boomer you know we have 44.106 ounces of gold in our reserves.
It’s worth $79 million, down 0.37% from a year ago.
If we had sold and bought Bitcoin a year ago, it would have been worth $204 million by now.”
Nayib Bukele’s response was not surprisingly answered by Schiff.
https://twitter. com/PeterSchiff/status/1467221971914084354
“You are green for now. Let’s see how long it will take. You are taking a big gamble using someone else’s money. It doesn’t seem likely to end well for them or you.”
