El Salvador loses tens of millions of dollars in bitcoin speculation

Time:2022-01-12 Source: 846 views Trending Copy share

The recent cryptocurrency slump has affected not only retail and institutional investors, but also El Salvador, the only country that has Bitcoin as legal tender.

Assuming the Buckley government doesn’t sell any bitcoin assets, its portfolio would now be in a loss of about 14%, down to $61 million, based on Wednesday’s prices, implying a paper loss of around $10 million.

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