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El Salvador’s Bitcoin Losses Swell to 28% as Bukele Buys More

From bnnbloomberg.ca

President Nayib Bukele’s Bitcoin gambit is becoming onerous for El Salvador, but that isn’t stopping him from adding to his stockpile. The impoverished Central American country has bought 2,301 Bitcoins since making it legal tender in September, based on Bukele’s announcements on Twitter, including yesterday’s 500-coin purchase as the price fell below $31,000. The tokens are worth $74 million now, well below the $103 million Bukele paid for them, according to calculations by Bloomberg. Bukele has shown himself to be a true believer in crypto, winning attention and admirers from around the world in the process, and ... (full story)

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  • Category: Fundamental Analysis