lunes, 4 de julio de 2022

How has the fall of bitcoin affected El Salvador ?

 In September 2021, when bitcoin was around 69,000dollars per unit, President Nayib Bukele made an investment of 2,302 bitcoin normalizing the  of these as exchange currency, the use of bitcoin as a transactional currency began in the country, being accepted in most establishments.

Four months ago when the value of the coin began to fluctuate in price, falling continuously until today reaching the price of 19,000 dollars per unit, the use of the coin fell in the same way as the price of the coin, causing your circulation decreases.

There is a problem of uncertainty in the population, given that the investment made so far is valued at more than 100,000 million dollars, even so there is an encouraging picture where the government reports that institutions have been created such as a huge pet hospital which is maintained from the profits of what is invested in bitcoins, but uncertainty increases when the International Monetary Fund announces El Salvador as the second country at risk of falling only with Venezuela ahead.

They rely on predictions from risk analysts that indicate a rise in the price of the coin between the end of 2022 and the beginning of 2023.

The only thing left for the people is to trust that the president's decision is as correct as the ones he took to combat gang violence, which have given him such good results.





How has the fall of bitcoin affected El Salvador ?

 In September 2021, when bitcoin was around 69,000dollars per unit, President Nayib Bukele made an investment of 2,302 bitcoin normalizing t...