El Salvador apparently invested about $270 million in bitcoin since 2021 and that investment is worth about half a billion bucks now. Oh my god, ha, what idiots!

[–] NewDark@hexbear.net 6 points 4 months ago (6 children)

That feels incredibly off. Bitcoin is around 100k now while back then it topped out at ~65k or so?

[–] blandfordforever@lemm.ee 1 points 4 months ago* (last edited 4 months ago) (5 children)

They didn't buy it all at once. The price dropped between then and now and they were buying. Wikipedia has an entry on it.

I'm not an expert on El Salvador's bitcoin, I just know you all sound like a bunch of sore losers.

[–] carl_marks_1312@hexbear.net 12 points 4 months ago (2 children)

Just because you had luck doing something incredibly stupid doesn't mean it was a good decision

[–] blandfordforever@lemm.ee 2 points 4 months ago (1 children)

I know you'd like to characterize it as dumb luck because that would make you feel better. The reality is that I've been making small monthly bitcoin purchases for the better part of a decade as a part of a much larger retirement fund.

When the btc price hit $100k, I sold most of the initial investment so that now I'm just risking losing part of my gains.

You can call it lucky and incredibly stupid. I can call it calculated risk.

[–] Gosplan14_the_Third@hexbear.net 6 points 4 months ago

So you're rich because others also bought into the completely unproductive ponzi scheme. Go brag somewhere else, loser.

[–] blandfordforever@lemm.ee -1 points 4 months ago

You're all mad because you lost money investing in bitcoin when it was pumping and then selling during a crash. Don't worry, it's safe with me.

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