Key takeaways:<\/p>\n
El Salvador’s President Nayib Bukele has chimed in on the ongoing Bitcoin bear market<\/a> and concerns that the country’s BTC holdings are in the red due to the ongoing crypto market drawdown.<\/p>\n According to President Bukele<\/a>, Bitcoin investors should stop looking at the charts and enjoy life. He added that anyone holding BTC should be reassured that their investment is safe and its value will grow after the bear market. He said<\/a>:<\/p>\n I see that some people are worried or anxious about the <\/span>Bitcoin<\/span> market price. <\/span><\/p>\n My advice: stop looking at the graph and enjoy life. <\/span><\/p>\n f you invested in <\/span>BTC<\/span> your investment is safe and its value will immensely grow after the bear market. Patience is the key.<\/span><\/p><\/blockquote>\n President Bukele’s reassurance about the Bitcoin market comes in the wake of the crypto-community pointing out that El Salvador’s BTC holdings are currently underwater.<\/p>\n According to Bitcoin Treasuries, El Salvador’s BTC purchases have undergone a 62.2% decline in value due to the ongoing market volatility<\/a>. This amount also translates to over $53 million in unrealized losses, as highlighted in the following tweet.<\/p>\n El Salvador's \ud83c\uddf8\ud83c\uddfb Bitcoin treasure is now worth: 32,767,232 USD (-62.2%, -53,895,450 USD \ud83d\udc8e\ud83d\udd90) #bitcoin<\/a><\/p>\n — Bitcoin Treasures \ud83c\udf0b (@QueTesoro) June 18, 2022<\/a><\/p><\/blockquote>\nEl Salvador’s Bitcoin Holdings Are at a 62.2% Loss.<\/h2>\n
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