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El Salvador President Educates Peter Schiff On Benefit Of Switching Gold Reserves To Bitcoin

El Salvador president Nayib Bukele goes on to make revelations on details of his country’s gold reserves. Of course, this is while in a conversation on Twitter with gold bug Peter Schiff.

Furthermore, Schiff comments on El Salvador buying the dip Saturday morning. That’s, after Bukele reveals his country got 100 more BTC as the price of bitcoin fell from above $52K Friday night to below $44K.

“There’s a lot more dips coming. How much taxpayer money do you intend to waste?”
So, Schiff queries the president.

Furthermore, The president replies, “None.”
“We’re already in the green from our last purchase, in less than 24 hours.”

Also, El Salvador president, Bukele continues

“You know boomer, we have 44,106 oz of gold in our reserves…”
“Worth $79 million, down 0.37% from a year ago. If we had sold it a year ago…”
“and bought bitcoin, it would now be valued at $204 million.”

So, El Salvador president concludes.

Recall, In September, Microstrategy CEO Michael Saylor makes similar comment.

“If I had chosen gold instead of bitcoin last year, it would have been a multi-billion dollar mistake.”

Notably, His company buys 7,002 more BTC at the end of November, totalling its holdings to 121,044 coins.

Lastly, El Salvador bitcoin legal tender alongside the U.S. dollar in September.
Then, Last week, the International Monetary Fund (IMF) issues warnings on using BTC as legal tender.

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