El Salvador President Disses Bloomberg Over Bitcoin Criticisms
El Salvador President Nayib Bukele called a Bloomberg report on its bitcoin experiment “full of lies.” The crypto community largely seems to agree with him.
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El Salvador President Nayib Bukele called a Bloomberg report on its bitcoin experiment “full of lies.” The crypto community largely seems to agree with him.
While critics have called El Salvador’s Bitcoin experiment a failure since the start, proponents see it as a revolution.
El Salvador’s government has accumulated $24 billion in debt since 1979 and the IMF predicts it will owe $38 billion within five years.
The country’s cryptocurrency paradise is a mirage.
Despite warnings of the risk to the economy, President Nayib Bukele gave orders to buy 500 more Bitcoins to add to existing reserve of 1,801