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They're not going to go and admit they screwed up with timing the market, are they? > The government has purchased 2,381 Bitcoin with public funds, which, toda
by mmastrac 4y ago
They're not going to go and admit they screwed up with timing the market, are they?
> The government has purchased 2,381 Bitcoin with public funds, which, today, are worth about 50% less than what authorities paid for them, according to calculations by Bloomberg based on tweets by President Nayib Bukele.
Ouch.
> A survey by the U.S. National Bureau of Economic Research found that most businesses and consumers in El Salvador still prefer to use hard currency to pay for goods and services and send remittances
Double-ouch.
- andirk 4y agoEveryone holding USD lost a solid 10% of their bag via inflation in ~1 year. So even the stable paper fell hard, albeit not as much. If BTC goes above whatever they paid, then is it still a failure or not?