$34,462.39 7.50%
BTC · 3w

Someone please ELI5 what El Salvador means for Bitcoin price stability down the road

Feel like this is a bit of a novel question, insofar as all the experts out there are more likely schooled in “smaller scale” price movements, when traditional assets are suddenly opened to investor markets. But this is entirely different, as Bitcoin is now being added as an asset to an entire swath of the population within a given area. Does this mean the days of wild price increases will be blunted by the selling pressure of said population? Why would we not assume that when an average Joe in El Salvador wakes up to find their bank account suddenly increased by 50% overnight that they don’t splurge to some extent the next day? How does this macro effect play out in terms of positive Bitcoin price movements? Is there any sort of formal analysis out there somewhere?
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