El Salvador ass eescht erof fir de zielen folgende seng schwéier love and adoption of bitcoin. The world’s number one digital currency by market cap is taking the country’s finances into a little pit of nothingness, but the nation’s leaders don’t seem all that worried.
Wéi vill huet El Salvador verluer?
An engem rezenten Interview huet de Finanzminister Alejandro Zelaya sot hien net besuergt about the state of the crypto space and doesn’t feel the dips will present any lasting harm to El Salvador. He stated:
When they tell me that the fiscal risk for El Salvador because of bitcoin is high, the only thing I can do is smile. The fiscal risk is extremely minimal.
El Salvador war déi éischt Natioun fir Bitcoin legal Ausschreiwung ze deklaréieren, maachen also an der leschter half of 2021. Since then, the country has come a long way in establishing financial independence, though the nation has experienced some hard times in the long run. For example, the World Bank de Réck gedréint on El Salvador and said it would not aid the country’s bitcoin agenda given that the asset was too volatile to be taken seriously.
D'Land erlieft och schwéier Animositéit vum Internationale Währungsfong (IMF), déi praktesch op d'Knéien gefall and begged Nayib Bukele – El Salvador’s bitcoin-loving president – to turn away from BTC permanently and reject everything crypto had to offer. Bukele séier gesot "Nee."
El Salvador huet och Mass gesinn Protester a senger Haaptstad geschéien city from individuals and residents that did not want their country to fall victim to the alleged crime that is so heavily tied to the bitcoin space. They argued that the nation was fine being dependent on USD, though they’re likely rescinding these words at the time of writing given how heavy inflation has been throughout much of America.
Zelaya discussed a recent report that claimed El Salvador had lost more than $40 million of its portfolio thanks to the bitcoin dips. He claimed that $40 million wasn’t anything officials had to worry about, and that the country is much better off than people realize. He stated:
Forty million dollars does not even represent 0.5 percent of our national general budget.
Down fir de Grof
It is alleged that the country has lost nearly 50 percent of its total holdings since the bitcoin price began to sink into oblivion. However, there have been many times in the past where bitcoin was down for the count, yet El Salvador kaaft all d'Dip time and added even more units to its stash. Perhaps this time will be no different.
El Salvador is estimated to hold more than 2,300 units of bitcoin which are currently priced at a total of $53 million. This is a huge step down from the $105.6 million that was used to purchase them.
Quell: https://www.livebitcoinnews.com/el-salvador-isnt-worried-about-its-bitcoin-losses/