The Salvadoran president, Nayib Bukele, said that his country has 44,106oz. of gold assets in its backup, which has lost some percent value since the previous years. The President of El Salvador told peter Schiff, that prioritize bitcoin over gold.
Recently, on tweeter, Salvadoran president Nayib Bukele has announced some details about his country’s gold assets. He revealed the information in a conversation with the chief global strategist of Euro Pacific Capital Inc, Peter Schiff.
The Debate Why To Prioritize Bitcoin Over Gold Through Official Twitter Accounts:
On Saturday morning, Schiff mentioned his view on El Salvador’s buying the dip.
after the Bukele announcement that his country purchased more bitcoin from the crypto market. They bought 100 bitcoin as the market value is going down nowadays. On Friday the value of bitcoin was more than $52,000 and now the value is low as $44,000 in the crypto market.
Schiff further asked Nayib buckle that :
“How much taxpayer money do you intend to waste?”
The Salvadoran replied to his comment,
“You know boomer, we have 44,106 oz of gold in our reserves. Worth $79 million, down 0.37% from a year ago. If we had sold it a year ago and bought bitcoin, it would now be valued at $204 million.”
However, In September, Micro strategist CEO Michael Saylor spoke the same words. He said that:
“If I select Gold instead of Bitcoin last year, it would have been a multi-billion dollar mistake.”
However, at the end of November, his company bought 7,002 more BTC, working on developing its bitcoin assets to 121,044 Bitcoins.
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