El Salvador has been buying one bitcoin a day since 2022, and will continue until bitcoin "becomes unaffordable with fiat currencies."
  • El Salvador will continue buying 1 Bitcoin daily until it becomes unaffordable with fiat currencies
  • President Bukele’s statement highlights commitment to cryptocurrency adoption
  • Move demonstrates belief in Bitcoin’s long-term value and potential as a global currency alternative.
  • daniskarma@lemmy.worldEnglish
    363·
    8 months ago

    And what happens if the government needs that money and Bitcoin price is down?

    I don’t see how putting national reserves on such an inestable “asset” would be a good idea.

    • IphtashuFitz@lemmy.worldEnglish
      101·
      8 months ago

      Worse, what happens if cybercriminals are able to successfully steal a large number of the countries bitcoin, or if they somehow lose access to their bitcoin wallet(s)?