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El Salvador

El Salvador’s Bitcoin ‘Revolution’ Is Failing Badly – Bloomberg

By Securities Docket on November 4, 2022, 8:20 am

A year in, it’s clear the move is failing. Almost no one in the country is using Bitcoin, and the few who bought after Bukele made it legal tender would’ve lost big: Bitcoin has dropped 61% since September 2021. In a country where many live on less than $10 a day, he spent hundreds of […]

Posted in Global, Top | Tagged Bitcoin, El Salvador

El Salvador’s Bitcoin Bet Isn’t Paying Off – The New York Times

By Securities Docket on July 6, 2022, 8:29 am

But nearly a year after the country’s president, Nayib Bukele, shocked the financial world by making its most popular digital coin a national currency, his bet appears to be backfiring, highlighting the gap between the utopian promises of cryptocurrency’s proponents and economic realities. The government’s bitcoin holdings have lost about 60 percent of their presumed […]

Posted in Global, Top | Tagged Bitcoin, El Salvador

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