Despite rough start, El Salvador's Bitcoin portfolio is coming closer to breakeven price thanks to new investment strategy nayibbukele
In November, President Nayib Bukele announced a new approach. Instead of making large, one-off purchases of Bitcoin, El Salvador would now buy one Bitcoin per day, a strategy aimed at dollar-cost averaging into the market. This approach of consistently buying the same amount over time, regardless of price fluctuations, is often used to mitigate the risk of investing a large amount in a single transaction at an unfavorable price.Fast forward to today, and the results are becoming visible.
The country's approach highlights a key aspect of investment strategy: patience. By consistently investing and holding onto their Bitcoin, El Salvador is nearing the point where the current value of its portfolio will match the total investment made.The breakeven point's proximity signifies not just the potential success of El Salvador's Bitcoin strategy but also the resilience of the cryptocurrency.
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