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)