El Salvador’s president, Nayib Bukele, marked Bitcoin Day with a symbolic gesture, igniting hypothesis concerning the pioneer crypto’s trajectory.
His comment comes at a time when historic patterns recommend turbulence could also be forward.
Bukele’s Bitcoin Day Gesture Meets Market Seasonality Warnings
On September 7, Bukele indicated on X (Twitter) that he was shopping for 21 BTC for Bitcoin Day. At current charges, with BTC buying and selling for $111,175 as of this writing, this meant a purchase order value $2.334 million.
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In hindsight, El Salvador adopted Bitcoin as authorized tender on September 7, 2021. The transfer cemented the small Central American nation’s repute as a world crypto pioneer.
“El Salvador Celebrates Bitcoin Day! The Bitcoin Office is proud to have been building Bitcoin country for three of the four years since El Salvador made Bitcoin legal tender,” the Bitcoin Workplace shared.
Subsequently, the timing is deliberate, and comes at a time when the gold versus Bitcoin dialog is boiling over.
Past gamers equivalent to Tether, El Salvador additionally made headlines in the identical narrative solely lately, with gold rising within the Central American nation because the Bitcoin technique progressively faces a world check.
Nevertheless, this yr’s commemoration comes amid rising scrutiny of Bitcoin in El Salvador, with the IMF questioning the authenticity of the nation’s claims. Towards this backdrop, customers stay skeptical about Bukele’s claims.
Technique’s Michael Saylor Hints at Extra Bitcoin Purchases
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Past President Bukele, MicroStrategy co-founder and govt chairman Michael Saylor, the world’s most seen company Bitcoin bull, hinted at plans to purchase extra BTC.
The remark was broadly interpreted as a touch on the enterprise intelligence firm’s additional accumulation of Bitcoin. Knowledge on Bitcoin Treasuries reveals Technique (previously MicroStrategy) already holds greater than 636,000 BTC.
Company BTC Holders. Supply: Bitcoin Treasuries
Traders intently observe Saylor’s strikes as a result of MicroStrategy has turn out to be a proxy for Bitcoin publicity on Wall Avenue.
Nevertheless, in addition they appeal to criticism. Hedge fund veteran Fred Krueger pushed again towards claims that MicroStrategy’s debt-fueled technique resembles a Ponzi scheme.
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Lots of people assume Saylor is working a Ponzi.
And that promoting BTC would someway “improve things”
I utterly disagree.
A Ponzi is an UNSTABLE state of affairs.
You both increase more cash, to repay the outdated customers, or the complete factor breaks.
MSTR, on the opposite arms could be very…
— Fred Krueger (@dotkrueger) September 7, 2025
Is September 8 A Bearish Calendar Marker?
Whereas Bukele and Saylor venture confidence, some analysts warn that the calendar itself might be a headwind.
Timothy Peterson, creator of Metcalfe’s Regulation as a Mannequin for Bitcoin’s Worth, identified that September 8 is traditionally one of many weakest buying and selling days for Bitcoin.
“On any given day, Bitcoin is up 53% of the time for a typical gain of +0.10%. September 8 is down 72% of the time for a typical loss of -1.30%. This makes it the 7th worst day of the year,” Peterson defined.
Extra importantly, he added, the day usually predicts the complete month: when September 8 closes damaging, Bitcoin posts a month-to-month loss 90% of the time.
Such information highlights the strain between Bitcoin’s symbolic milestones and its often-brutal market realities. Whale Insider highlighted an equally brutal actuality, that $10 billion BTC shorts might be worn out if Bitcoin costs attain $117,000.
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Regardless of short-term dangers, long-term believers stay undeterred. Billy Boone reminded followers that Bitcoin’s market is dominated by simply two million cash in lively circulation.
“When those dry up, it’s not gradual,” he wrote.
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The consumer argues that adoption fears are misplaced and provide constraints may speed up value discovery.
This attitude resonates with El Salvador’s technique. Bukele’s authorities has positioned Bitcoin as a basis of nationwide reserves alongside gold. They wager that shortage and digital adoption will protect the nation from fiat instability.
The anniversary of Bitcoin’s authorized tender experiment coincides with one in every of its traditionally weakest buying and selling days, and the distinction is stark.
Bukele’s 21 BTC gesture and Saylor’s “More Orange” trace recommend unwavering conviction, however market information factors to warning.
