El Salvador’s President is not worried about the decline in bitcoin and calls on everyone to calm down

El Salvador’s President Nayib Buchele urged the crypto community not to panic because of the market’s decline. Mr. Buquele posted his advice on Twitter.

«I see that many people are worried and very nervous about the market rate of bitcoin. My advice is to stop looking at the charts and enjoy life. If you bought bitcoins, your investment is safe. And after this bearish cycle is over, the BTC rate will rise strongly. Patience is golden,» Bukele wrote on Twitter.

Veo que algunas personas están preocupadas o ansiosas por el precio del #Bitcoin en el mercado.

Mi consejo: dejen de ver la gráfica y disfruten la vida. Si invirtieron en #BTC su inversión está segura y su valor crecerá muchísimo después del bear market.

Paciencia es la clave.

— Nayib Bukele (@nayibbukele) June 19, 2022

This advice from the President of El Salvador caused a mixed reaction from the community. Some users mentioned that El Salvador’s economy is struggling, as the vast majority of BTC was bought at a much higher price. However, according to the Minister of Finance of El Salvador, Alejandro Zelaya, there are currently no problems in the economic sector. However, the floating loss from investments in BTC is about $ 40 million.

The President of El Salvador is a well-known supporter of cryptocurrencies: El Salvador became the first country to make bitcoin legal tender on September 7 last year. The same month, the country’s authorities purchased 150 bitcoins and another 420 bitcoins in October. And this year, in early May, when the bitcoin rate dropped to $ 30,744 per coin, Nayib Bukele bought another 500 BTC.