El Salvador’s Bitcoin trades are adding risk to a sovereign credit outlook that was already weak and reflecting a growing chance of default, according to Moody’s Investors Service. The government’s Bitcoin holdings “certainly add to the risk portfolio”, Moody’s analyst Jaime Reusche said Wednesday in a phone interview. Trading Bitcoin “is quite risky, particularly for a government that has been struggling with liquidity pressures in the past,” he said. President Nayib Bukele has said he buys the cryptocurrency using his phone, though the government doesn’t publish data on its holdings. Bukele bought some coins ahead ... (full story)