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They brought multiple tranches when the price was much higher. I belive they are down by atleast 20% despite buying the dip multiple times. And more to the poi
by unmole 4y ago
They brought multiple tranches when the price was much higher. I belive they are down by atleast 20% despite buying the dip multiple times.
And more to the point, Bukele's shenanigans have signalled to the world that El Salvador's government can't be trusted to follow responsible financial policies. Which is why yeilds on this bonds have spiked and the country is finding it impossible to borrow.
- cyphertruck 4y agoOnly in clown world is stacking hard currency “shenanigans” and borrowing unlimited billions from IMF (always with strings to keep them poor) is “responsible”.
- nradov 4y agoCryptocurrency is not hard currency. Outside of failed states like El Salvador, it isn't backed by any military force or taxing authority. It's just like Monopoly money or something.
- unmole 4y agoThe very fact that a country needs an IMF bailout means that its economic policies were not working. Governments borrow to fund revenue deficits. What exactly does hodling a highly volatile asset that generates no cash flow acomplish?
- niklasbuschmann 4y ago„In macroeconomics, hard currency, safe-haven currency, or strong currency is any globally traded currency that serves as a reliable and stable store of value.“