The crypto winter is coming! Or is it? Even though the price of BTC has dropped drastically over the last couple of weeks, there are still some Bitcoin enthusiasts who believe this is just a glitch in the matrix. Among those who are certain that Bitcoin has a bright future ahead is the President of El Salvador Nayib Bukele who’s recently signed a decree to buy another 80 BTC.
MicroStrategy – the world’s largest publicly-traded cryptocurrency holder – has gone a step further. The company’s CEO Michael Saylor announced the purchase of $10 million worth of Bitcoin.
Then, there’s Robert Kiyosaki, the author of the bestselling self-help book Rich Dad, Poor Dad, who thinks investors should hope for the value of BTC to drop even further down so that they could really cash it once it recovers again.
El Salvador Buys BTC for $1 Million
For a country with a GDP of ~$26.6 billion, investing a million in crypto assets during a bearish period doesn’t seem like a smart idea. However, that’s exactly what El Salvador President did a couple of days ago. Nayib Bukele used public funds to purchase 80 BTC at $19k per coin, increasing the country’s stash to 2,301 BTC.
So far, Bukele’s government has invested more than $100 million in Bitcoin, buying most of the coins when the price was $43,719. At the moment, El Salvador is having serious losses, but President has no intention of selling any of the crypto assets, believe Bitcoin will bounce back again.
Bukele is not the only one to think so. Michael Saylor, the boss of MicroStrategy, also believes now is not the time to sell but invest.
MicroStrategy Buys Another 480 Bitcoins
MicroStrategy is the company that owns more BTC than anyone else on the planet. It holds a total of 129,699 BTCs, which is almost 2.5 times more than what Tesla – the world’s second-biggest BTC owner – holds in 2022.
So far, MicroStrategy has invested more than $6 billion in Bitcoin, the value which has halved since the start of the bearish period. Even though they’ve lost over $3 billion in investment, MicroStrategy bosses have no intention of backing down. In fact, they believe now is the right time to start buying more.
As announced by MicroStrategy CEO Michael Saylor, the company has decided to buy $10 million worth of Bitcoin (480 BTCs). They see the price drop as an ideal opportunity to invest, suggesting that we could see them make even more purchases in the future.
Robert Kiyosaki Wants to Wait a While Longer
The author of Rich Dad, Poor Dad believes the time is yet to come for investors to make big money from Bitcoin. He thinks they should wait a while longer to see how much can Bitcoin drop. And if it does fall to ~$1,100, it would be the signal to start investing heavily.
“LOSERS quit when they lose,” – Kiyosaki thinks that the continuous drop in the BTC price will put fear in holders’ bones, forcing them to start selling off.
“I am waiting for Bitcoin to test $1100. If it recovers, I will buy more. If it does not, I will wait for losers to capitulate, quit, then buy more.”
