A store that accepts bitcoins in El Zonte, La Libertad, El Salvador on September 4, 2021.at $30,744 each on Monday, President Nayib Bukele said.El Salvador – which became the first country to make bitcoin legal tender in September — has lost R580 million in cryptocurrency as bitcoin plummeted over 50% from its all-time high on Thursday.
President Nayib Bukele bet big that bullish bitcoin investments could rescue El Salvador's economy from its growing debt-to-GDP ratio. Now, the crypto market's crash is fulfilling critics' warnings against investing treasury funds into volatile digital currencies. Bukele's administration has spent a total of $103 million on 2,301 bitcoins since September of last year, according to
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BISouthAfrica - 🏆 34. / 51 Read more »