El Salvador has embraced Bitcoin like no other country, with the government purchasing hundreds of coins last year as it announced that the cryptocurrency would become legal tender.
But as the cryptocurrency market cools off, El Salvador's investment is rapidly losing value -- to the tune of at least $50 million.Since September 2021, the El Salvador government led by President Nayib Bukele has amassed 2,301 bitcoins that were worth $103 million. Now, they are worth around $51 million.The wider crypto market, which grew rapidly during the pandemic, has taken a tumble in recent months.
Suckers!
It'll come back. Pioneers always face challenges
Being trendy is not always cool.
You mean scammers in Africa and South America lost money?
Cools off.....and not crashes...like it was just some fad....your bias is showing.
It's not a 'bet'