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>The price of bitcoin seesawed later Saturday after El Salvador President Nayib Bukele, whose country adopted bitcoin as a national currency in September, said

>The price of bitcoin seesawed later Saturday after El Salvador President Nayib Bukele, whose country adopted bitcoin as a national currency in September, said in a Twitter post that the country had bought 150 coins for an average of $48,670 each. “El Salvador just bought the dip!” he said. He later wrote that the country had “Missed the f**ing bottom by 7 minutes,” followed by a laughing emoji. El Salvadore needs to be cut off from the world financial markets; or at least USD markets. World Bank and IMF need to refuse to do transact with the country at all. This bitcoin experiment is going to end in disaster.

detaro 5y ago
> El Salvadore needs to be cut off from the world financial markets; or at least USD markets. World Bank and IMF need to refuse to do transact with the country at all I fail to see how that would improve their situation.
- WoahNoun 5y ago
  It wouldn't help El Salvadore. But it would prevent the future fallout from spreading to other markets.
  - shkkmo 5y ago
    That seems unlikely. How would it do that?
    - yoavm 5y ago
      Perhaps they would think twice before they make BTC an official currency?
betaby 5y ago
Probably. And that may be beneficial to everyone. IMF aren't the good guys most of the time anyway.