Bitcoin collapses in El Salvador as official currency and loses more than 14% of its value
This is already possible in El Salvador Aribas Pay with BitcoinIndeed, since last Tuesday You can buy anything with cryptocurrency. It is a complete commitment from the government to invest in the digital sphere, but it does not bring such good results or great acceptance among citizens.
The CEO has developed “Chivo Wallet”, an electronic wallet for managing payments and exchanges using bitcoins. In addition, they will be able to withdraw dollars from 200 authorized ATMs.
The idea that is meant by this is Attracting capital and investment And that the foreign exchange reserves of the country can be increased, which is one of the countries with the lowest per capita income.
Take this step, however, Not without risks. Monday, One bitcoin was worth $44,000, but following President Bukele’s announcement on Tuesday, The coin has not stopped falling. Since Tuesday it has lost more than 14% of its value.
Therefore, the experience ofComes with suspicion and protests among the population. Up to 60% of citizens do not trust cryptocurrencies, precisely because of their volatility. Many who differ in opinion focus on their boss, Indicated by populism and the exercise of personal power.
Now it remains to be seen if more countries follow in his wake and also manage to focus the attention of tech lovers.