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El Salvador's bitcoin experiment: $60 million lost, $375 million spent, little to show so far Key Points: - El Salvador has lost around $60 million on its bit
by 2pEXgD0fZ5cF 4y ago
El Salvador's bitcoin experiment: $60 million lost, $375 million spent, little to show so far
Key Points:
- El Salvador has lost around $60 million on its bitcoin bet one year into a nationwide crypto experiment.
- The use of bitcoin in El Salvador appears to be low amid the market volatility.
- The country faces plummeting economic growth and a high deficit.
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(Quoted from the article)
- theplumber 4y agoWho thought people don't like to use a volatile "coin" to pay groceries?
- throwawayKiwi9 4y agoA lot of people who have dealt with much worse volatility in their national currency thought it was a good idea. Many national currencies have performed so much worse than this.