Time magazine decided to attack El Salvador’s president Nayib Bukele for investing in Bitcoin. It’s not surprising we all know that mass media want cryptocurrencies to disappear. Mainstream treats people like a bunch of dummies and constantly misleads them. In this case, the author of the article “Why El Salvador’s Bukele Is Doubling Down on Bitcoin Despite the Crypto Crash” whose name is Ciara criticizes the president for buying Bitcoins in the past and his plans to continue it. I can agree that he didn’t make his first purchase at the best time. He should wait with the shopping because it was quite obvious, that raising US interest rates will hurt the stock market and cryptocurrencies prices really hard. I think I should be hired as Nayib’s advisor. If you are in touch with Bukele, please recommend me. By the way, It’s actually quite funny when rich and influential people make this kind of silly mistake. What you can learn from it is that they are not very different from average people and it is not that hard to become one of them.
Let’s get back to analyzing the article. Ciara finds it wrong to buy Bitcoin right now because its price decreased a lot since last year. As always, I have to remind you that I am not a financial advisor and this is not financial advice. Even little kids know, that it's a good business to buy when prices are down and sell when they are high. Based on this probably an exceptionally strange concept for Ciara, it is smart to buy Bitcoin right now and slowly carry on this process when the price will be even lower. I do not get why the author of the article is so against El Salvador’s president's actions. But maybe, just maybe her superior told her to denounce el Presidente!