-
El Salvador’s Reserves Tumble as Bitcoin Extends Losses
El Salvador has amassed an estimated 2,301 bitcoins since announcing it would recognize the world’s largest cryptocurrency as legal tender a year ago. El Salvador President Nayib Bukele has made it a habit to “buy the dip” in recent months, often taking to Twitter to brag about locking in lower prices. At the time of Bukele’s last Twitter update, the country’s bitcoin reserves totalled about $71.4 million. But recent market conditions have pushed bitcoin’s price even lower, driving El Salvador’s holdings down to around $52 million. The sell-off comes as El Salvador continues to delay the issue of its ... (full story)
