El Salvador’s crypto-enthusiast president appears to be taking the recent steep drop in bitcoin in stride: After all, if running a country doesn’t work out, there’s always McDonal…
who don’t have access to traditional financial services.
Residents were encouraged to use bitcoin to pay taxes, buy homes, and purchase goods and services with the digital asset.at the base of a volcano, where it will deploy geothermal energy to power bitcoin mining. Under Bukele’s leadership, El Salvador has amassed a bitcoin portfolio totaling more than 1,500 digital coins — which is worth around $53 million in US dollars.APBut analysts aren’t so bullish on Bukele’s gamble. The ratings agency Moody’s toldThe country’s burgeoning bitcoin portfolio could hamper its ability to repay lenders, according to Moody’s.
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