El Salvador’s Bitcoin Bet Is Down Bad: $37 Million in the Hole | Crypto Craft

  • El Salvador’s Bitcoin Bet Is Down Bad: $37 Million in the Hole

    From decrypt.co

    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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ohyeah
May 13, 2022 5:23am
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He's the type of cat that would buy a Forex Grail system for $99 and bet his nation's funds with it. Hey maybe he'll try Forex next. There are a lot of grails such as Blessing EA, etc.
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Aussi
May 13, 2022 5:02pm — Edited
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Goat
May 13, 2022 11:34am
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Quoting ohyeah
He's the type of cat that would buy a Forex Grail system for $99 and bet his nation's funds with it.
Well put!!
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