Bitcoin Advice from Morgan Stanley! – Bitcoin System

in September of 2021 Bitcoin (BTC) first country to adopt legal currency El Salvadorafter this decision BTC was starting to take.

However BTCAfter its ATH of $69,000 in November, it has dropped by approximately 70% and is currently trading at $23,580 according to data from CoinGecko.

BTCalthough it has fallen sharply since its ATH in November, bitcoin a supporter Nayib Bukele, President of El Salvador He continued to buy BTC.

However, El Salvador has suffered a great loss from the BTCs it holds.

Despite this situation of El Salvador, it is one of the leading banks in the world. Morgan StanleyInvestors from El Salvador received a call.

The US investment bank urged its clients to buy El Salvador’s falling bonds in a note to clients.

of El Salvador Eurobond’These are among the worst-performing bonds this year.

Simon Waever, global head of emerging market country credit strategy at Morgan Stanley, said in a note to clients that El Salvador’s Eurobonds are being heavily penalized by the market.

Stating that the market value of Eurobonds is $ 7.7 billion, Waever stated that bonds fell to 28 cents against the dollar this year, even falling to a record low of 26.3 cents on July 15.

Even if the country defaults, the bonds should still be trading for an estimated 43.7 cents on the dollar, according to Waever. However, Waever thinks that it is unlikely that the bond will reach these levels in the global liquidity crunch.

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