Bitcoin It is the cryptocurrency with the best performance per decade. However, the recent market Disappointing investors across the world.
There is a fear arising from that Bitcoin It could collapse, and if it did, El Salvador It will have dire consequences.
Why is El Salvador linked to Bitcoin?
where Neb Bokel took control El SalvadorThe Central American country began Bitcoin betting.
Bukele, a populist in power, my voice Bitcoin cheerleader. Adopt cryptocurrency as legal tender.
His initial plan was to transform El Salvador to me mining centerthe first sovereign nation linked to bitcoin.
however, Bukili Failed. Many cryptocurrency experts believe that if Bukele continues to push the Bitcoin project, El Salvador It will be a disaster.
“The government’s financial problems are not caused by bitcoin, but made worse by bitcoin,” he said. Ricardo CastanedaChief Economist and Country Coordinator for El Salvador and Honduras at the Central American Institute of Fiscal Studies
“Bitcoin is no longer a solution And it became part of the problem.”
Bitcoin down to 45 cents Since El Salvador has adopted cryptocurrency.
to me CoinMarketCapThe value of all cryptocurrencies collected decreased to 1.2 trillion dollars In November.
citizens El Salvador Bitcoin is not adopted as the main currency. People prefer traditional financial movements to use a complex mechanism.
Rating agencies also believe that the adoption of Bitcoin will facilitate Money laundering.
Investing in Bitcoin Might Be Negative Because Bitcoin volatility.
Experts do not believe that paying cryptocurrency investments will give you returns. On the contrary, it is a long-term investment, and they do not recommend high risk exposure.
The US dollar is more stable than any cryptocurrency in the market.
Recently, Bukele is illegally seeking re-election. This could cause another red flag for El Salvador, and cause a social problem.
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