This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.Today is the day.Bitcoin has officially become legal tender in El Salvador. As a part of that process, the country has purchased their first 400 BTC, with far more buying to come. This is a huge day for Bitcoin.When the news first broke, Salvadoran president Nayib Bukele also revealed that all citizens of the country with a government-backed digital currency wallet will receive $30 in Bitcoin. For free.In solidarity with El Salvador, Bitcoiners around the world pledged to buy $30 in Bitcoin on September 7th, imprinting this moment in history. Snowballing media attention has transformed the day from a mere idea to a tangible event. Hashtags such as #30for30” “#buybtctuesday” and “#7septemberbuybtc” have picked up traction. Major players like Michael Saylor pledged to buy and multi-million user Reddit groups coordinated global purchases at specific times. As with every major story in the crypto space, controversy followed. Critics chimed in, calling today a coordinated “pump and dump.” Another argument against the event is that everyone who buys Bitcoin is actually front-running the citizens of El Salvador, causing them to receive less Bitcoin. Some also said the pump is bad for adoption and will cause a dump as the citizens are receiving their Bitcoin, detracting from its value. From my perspective, it is hard to see any negative in buying Bitcoin at any point, for any reason. More countries in the future will adopt a Bitcoin standard and the citizens there will benefit too. Should we stop buying now for those people who also need access to Bitcoin?We have made it this far because we have opted out of a fiat system, ao there is no time to waste in raising awareness around the asset and bringing it to the forefront of global attention. The $30 Bitcoin airdrop was never intended to singlehandedly turn around the lives of El Salvador’s citizens. It was intended to act as an incentive to opt into a Bitcoin system and out of a fiat system.A win-win alternative to the dilemma is buying some Bitcoin and donating it to the country. There is so much Bitcoin related activity happening in El Salvador, from developing volcano mining to Bitcoin Beach, Bitcoin ATMs to fledgling entrepreneurs. Finding a home for your Bitcoin shouldn't be hard if that is your preferred method. I am excited to see what takes place today as we move the needle ever so slightly forward on this 21st-century monetary revolution.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COIn This Issue:Bitcoin Is Legal Tender In El SalvadorBitcoin Thoughts And AnalysisAltcoin ChartsWorld Economic Forum Talks CryptoSEC Warns Investors About Crypto ScamsStandard Chartered Bullish On Crypto - Especially EthereumThe Wolf Of All Streets Podcast Ft. Ryan SelkisMy Recommended Platforms And Tools
The Wolf Den #323 - El Salvador
The Wolf Den #323 - El Salvador
The Wolf Den #323 - El Salvador
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.Today is the day.Bitcoin has officially become legal tender in El Salvador. As a part of that process, the country has purchased their first 400 BTC, with far more buying to come. This is a huge day for Bitcoin.When the news first broke, Salvadoran president Nayib Bukele also revealed that all citizens of the country with a government-backed digital currency wallet will receive $30 in Bitcoin. For free.In solidarity with El Salvador, Bitcoiners around the world pledged to buy $30 in Bitcoin on September 7th, imprinting this moment in history. Snowballing media attention has transformed the day from a mere idea to a tangible event. Hashtags such as #30for30” “#buybtctuesday” and “#7septemberbuybtc” have picked up traction. Major players like Michael Saylor pledged to buy and multi-million user Reddit groups coordinated global purchases at specific times. As with every major story in the crypto space, controversy followed. Critics chimed in, calling today a coordinated “pump and dump.” Another argument against the event is that everyone who buys Bitcoin is actually front-running the citizens of El Salvador, causing them to receive less Bitcoin. Some also said the pump is bad for adoption and will cause a dump as the citizens are receiving their Bitcoin, detracting from its value. From my perspective, it is hard to see any negative in buying Bitcoin at any point, for any reason. More countries in the future will adopt a Bitcoin standard and the citizens there will benefit too. Should we stop buying now for those people who also need access to Bitcoin?We have made it this far because we have opted out of a fiat system, ao there is no time to waste in raising awareness around the asset and bringing it to the forefront of global attention. The $30 Bitcoin airdrop was never intended to singlehandedly turn around the lives of El Salvador’s citizens. It was intended to act as an incentive to opt into a Bitcoin system and out of a fiat system.A win-win alternative to the dilemma is buying some Bitcoin and donating it to the country. There is so much Bitcoin related activity happening in El Salvador, from developing volcano mining to Bitcoin Beach, Bitcoin ATMs to fledgling entrepreneurs. Finding a home for your Bitcoin shouldn't be hard if that is your preferred method. I am excited to see what takes place today as we move the needle ever so slightly forward on this 21st-century monetary revolution.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COIn This Issue:Bitcoin Is Legal Tender In El SalvadorBitcoin Thoughts And AnalysisAltcoin ChartsWorld Economic Forum Talks CryptoSEC Warns Investors About Crypto ScamsStandard Chartered Bullish On Crypto - Especially EthereumThe Wolf Of All Streets Podcast Ft. Ryan SelkisMy Recommended Platforms And Tools