Monday, January 16, 2023

Bukele's government continues to bet on bitcoin despite a bleak outlook

The recent enactment of the Law of Issuance of Digital Assets gives a new impetus to this policy, which turns a deaf ear to the criticism of the non-transparent management of cryptoassets, whose fall in value has already caused an estimated loss of US$ 100 million to the Salvadoran coffers.

Even with the bankruptcy of the largest Bitcoin miner, Core Scientific, the bankruptcy declaration of FTX, unfavorable numbers in the country and criticism from economists, the president of El Salvador, Nayib Bukele, continues to demonstrate blind confidence in cryptocurrency.

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