Whatever Happened to El Salvador’s Bitcoin Experiment? Two … – Slashdot
Agence France-Presse reports that “Two years ago, El Salvador shrugged off a chorus of warnings and adopted Bitcoin as legal tender in a bid to revitalize its economy and improve access to financial services.
“It has not worked… Economist Cesar Villalona told AFP that Bitcoin ‘does not exist in the local economy’ in any significant way, because in El Salvador ‘everything’ is paid in dollars: wages, services and goods.” Bitcoin has lost more than half its value since then and though President Nayib Bukele is wildly popular for his clampdown on criminal gangs, his currency gamble has not gone down equally well… [T]wo years after El Salvador became the first country in the world to adopt Bitcoin as its currency, alongside the U.S. dollar, “the goals that were pursued… have not been achieved, people hardly use it, they don’t have much trust” in crypto, economist and former Reserve Bank governor Carlos Acevedo told AFP. “The experiment has not worked, it is a crypto winter,” he…
The post Whatever Happened to El Salvador’s Bitcoin Experiment? Two … – Slashdot first appeared on SEO, Marketing and Social News | OneSEOCompany.com.
source: https://news.oneseocompany.com/2023/09/10/whatever-happened-to-el-salvadors-bitcoin-experiment-two-slashdot_2023091050049.html
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.