#el salvador
Happy National Hispanic Heritage Month!
On this day in 1821, Nicaragua, Honduras, Costa Rica, El Salvador & Guatemala gained independence from Spain. Happy Independence Day!
El Salvador loses $38M in Bitcoin crash, faces potential default
El Salvador’s president Nayib Bukele is a big Bitcoin enthusiast. However, his push into the cryptocurrency has left his country facing the spectre of default, a situation made worse by the famous digital currency’s recent crash.
Bitcoin has plummeted from a high of over $68,000 in November to around $28,000, and other crypto assets have also seen dramatic falls.
The current price of Bitcoin at $28,404 puts El Salvador’s Bitcoin value at just over $65 million, but the country paid over $103 million for it in a series of purchases.
Well done, president Dumbass!