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El Salvador’s Bitcoin Bet Is Down Bad: $37 Million in the Hole
El Salvador's Bitcoin bet doesn't appear to be paying off. The value of the 2,301 Bitcoin purchased by the Latin American country has now fallen by $37 million as the price of Bitcoin drops to its lowest point since December 2020. President Nayib Bukele has spent a total of $103 million on Bitcoin, according to data compiled by Bloomberg, after El Salvador made the cryptocurrency legal tender last year. Currently, El Salvador's Bitcoin treasury has a value of $65.6 million. Seemingly undeterred by the latest market crash, Bukele, on May 9, announced that he had purchased another 500 BTC, tweeting that El Salvador was ... (full story)
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- Comment #1
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- May 13, 2022 6:23am May 13, 2022 6:23am
- ohyeah
- | Commercial Member | Joined Apr 2016 | 29 Comments
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- May 13, 2022 12:34pm May 13, 2022 12:34pm
- Goat
- Joined Jan 2009 | Status: FREE ROSS | 751 Comments
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- Edited 6:48pm May 13, 2022 6:02pm | Edited 6:48pm
- Aussi
- Joined Sep 2013 | Status: Member | 4049 Comments
ITS ABOUT THE CASH NOTHING ELSE.