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In 2021 El Salvador become the first country to adopt Bitcoin as legal tender, they also spent ~$100 million of public money to buy Bitcoin as an investment. Since then, Bitcoin adoption has been negligible, their sovereign Bitcoin holdings have declined in value by ~50%, their bonds are trading for pennies on the dollar, and they are on the brink of an economic catastrophe. So what happened to El Salvador's Bitcoin gambit and why was it such a failure?
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2:07 - 3:13 Why adopt Bitcoin?
3:14 - 4:22 Bitcoin law
4:23 - 4:49 Bitcoin city
4:50 - 7:22 Bitcoin flop
7:23 - 9:29 Economic crisis
9:30 IMF Bailout
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By Stock Chat

where the coffee is hot and so is the chat

31 thoughts on “Bitcoin losses plunge el salvador towards debt crisis”
  1. Avataaar/Circle Created with python_avatars Patrick Warren says:

    Its< natural to see so many investors panic amid a worsening bearish market but it is also important to note that the market situation is nothing new in the crypto world.Several factors are driving negative sentiment in the stock and crypto markets right now including inflation, a shaky stock market, rising interest rates, and recession fears. As a result, bitcoin has dropped significantly from its all-time high, breaking below several key technical levels. As a crypto investor, the current situation might seem bleak. However, there are several tried and tested, expert-suggested investment strategies that can help you weather the current crypto storm. In 2 weeks of shorting and trading with signals directly from Shirley Bagshaw, I have been able to accumulate 11 btc despite the state of the market.

  2. Avataaar/Circle Created with python_avatars Jackie Brooks says:

    I sincerely appreciate the work you've done and the knowledge you share. Technical analysis can be helpful, but I think It is quite puzzling that well-known cryptocurrency YouTubers just pay attention to pure T.A and entirely ignore the bigger narrative of why BTC is inflating and why the outlook for the future is even more encouraging than it seems. Ignoring the reality that each ETF launch to this point has caused a sizable decline from BTC highs is somewhat dangerous. We were already in a perilous position and only survived a protracted bear market due to historically low volume and nearly whale pumps. Day trading should be given greater consideration because it is less affected by the market's situation. trading daily with Jerry Willfort I have earned over $ 11BTC using his insights and charts. His insight has always been a step ahead of others..

  3. Avataaar/Circle Created with python_avatars Deleted Axiom says:

    El Salvador, if Wojak was a country. Buying the dip with credit cards.

  4. Avataaar/Circle Created with python_avatars Alex Leung says:

    You guys really enjoy kicking people when they're down

  5. Avataaar/Circle Created with python_avatars TheAlonecrepto says:

    A country got " rekt "

  6. Avataaar/Circle Created with python_avatars Darren Dent says:

    Ya ya we know about El Salvador and their losses….. But what about the WSB loss porn dang nab it?

  7. Avataaar/Circle Created with python_avatars Trash Me says:

    Diamond hands….until there is a military coup

  8. Avataaar/Circle Created with python_avatars Jevon S says:

    He belongs on WallStreetBets, using debt to finance his losses so he doesn’t have to realise them gambling on it all going up. A true professional

  9. Avataaar/Circle Created with python_avatars Samson Soturian says:

    The idea younger people are more tech savvy became obsolete when the smart phone was invented.

  10. Avataaar/Circle Created with python_avatars Harley Soriano says:

    Lmaoooo what a fool

  11. Avataaar/Circle Created with python_avatars infidel god says:

    Dude buy gold

  12. Avataaar/Circle Created with python_avatars Darnell says:

    El Salvador about to look smart ASF in 10yrs.

  13. Avataaar/Circle Created with python_avatars Mathew Omolo says:

    I think the president should've approached bitcoin purely for speculation, as it's honestly being used currently. He should've also invested in mining

  14. Avataaar/Circle Created with python_avatars parafitality says:

    Imagine electing a cryptobro to run your country, he even comes with this backwards hat and all

  15. Avataaar/Circle Created with python_avatars Tatsuya Arai says:

    Bitcoin is terrible. But I’m still not convinced by the notion that El Salvador would have been well off if they didn’t tap into Bitcoin – national currency stuff. I don’t think their own currency would do any better. I know I might be wrong 🙃

  16. Avataaar/Circle Created with python_avatars Crocodile Whispers says:

    This just in El Salvador just bought the dip!

  17. Avataaar/Circle Created with python_avatars David Analyst says:

    no, having the government's debt equal to the total amount of money spent in the country over a year is ridiculous for any government and any country of any size or consequence. Hes saying that because "modern" "economists" in the usa are telling congress to spend more money even though they don't have any

  18. Avataaar/Circle Created with python_avatars Juuso Kuikka says:

    Of the dumb head the whole body suffers. By having a dumb government the whole country suffers.

  19. Avataaar/Circle Created with python_avatars FootballJunkie says:

    The ultimate bro president

  20. Avataaar/Circle Created with python_avatars Sean Griffin says:

    Country wide economic policy in 4 letters HODL…what could go wrong.

    My countries 'Dear Leader' said on TV that "The budget will balance itself" so betting on dogecoin isn't the worst idea out there.

  21. Avataaar/Circle Created with python_avatars Fredrik B says:

    Why would they use bitcoin for its efficiency when bitcoin itself isn't efficient?

  22. Avataaar/Circle Created with python_avatars Pratama Ridho says:

    Another Sri Lanka is in making.

  23. Avataaar/Circle Created with python_avatars Andrew DuBose says:

    El Salvador GMI. All of the policy aspects are smart independent of the Bitcoin purchases. And those will recover.

  24. Avataaar/Circle Created with python_avatars Adam Mieke says:

    I'm 54 and Even in the economic fluctuations, I'm so excited I've been earning $45,000 from my $10,000 investment every 10days.

  25. Avataaar/Circle Created with python_avatars CatsMeowPaw says:

    I would love to see Bukele lose the keys. Not because I want to see the good people of El Salvador suffer, but to put an end to this rampant stupidity.

  26. Avataaar/Circle Created with python_avatars Samson Soturian says:

    I wish I could buy a credit default swap on Salvadoran bonds…….

  27. Avataaar/Circle Created with python_avatars Samson Soturian says:

    This is what happens when an autist/gangster sets fiscal policy

  28. Avataaar/Circle Created with python_avatars hs says:

    Bad timing…btc is NOT it.

  29. Avataaar/Circle Created with python_avatars MPD says:

    A lot of the debt is from previous governments

  30. Avataaar/Circle Created with python_avatars MPD says:

    As a Salvadoran it’s not that big of a deal. President Bukele locked up all the gang members and tourism is booming. He is investing heavily in infrastructure and I think that this could offset the losses from the BTC gamble

  31. Avataaar/Circle Created with python_avatars Smith Js says:

    I'm still rooting for AL Salvador. Do Kwon is the one to blame lol

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