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El Salvador’s Bitcoin Holdings Lose 60% of Their Value in Crypto Selloff
El Salvador’s Bitcoin holdings have lost 60% of their value amid this week’s sell off of the digital coin after Binance Holding Ltd.’s withdrew its offer to buy FTX.com. The country’s 2,381 Bitcoin are now worth $41.5 million at current prices, below the roughly $105 million the government paid to purchase them, based on calculations by Bloomberg using Tweets from President Nayib Bukele. Bitcoin rose on Thursday, paring Wednesday’s declines. The government doesn’t publish data on its Bitcoin holdings. Finance Minister Alejandro Zelaya said in an interview on Wednesday with local television program Frente ... (full story)
