bitcoin one of the first countries that come to mind when it comes to El Salvadorcontinues to come up with a new news almost every day.
The country’s president, who faced a lot of backlash after the government of El Salvador made Bitcoin the legal currency alongside the dollar last year Nayib Bukelestill continues to take a careless attitude towards these reactions.
credit rating agency moody’s, issued a warning about the risk of El Salvador’s credit reduction due to Bitcoin, but President Nayib Bukele made his reaction to this event clear with a tweet: “EL SALVADOR DOES NOT CARE!”
BREAKING: EL SALVADOR DGAF https://t.co/VuJ25PcvQL
— Nayib Bukele 🇸🇻 (@nayibbukele) January 17, 2022
Known in the crypto community for buying Bitcoin from the bottom levels and being known by the nickname “Dipçi Bukele”, the President made new purchases in the last drops and increased the amount of BTC owned by the country to 1,391.
Stating that this situation exposes the country to extreme cryptocurrency volatility, Moody’s states that after the recent drop in BTC price, Bitcoin assets in the country are flooded.
Moody’s analyst, Jaime Reusche, in his latest statement, stated that these investments made by the country increase the risk of credit outlook and expose the country to the risk of lowering it to the levels of Angola and Iraq.
Stating that Bitcoin trading is extremely risky, especially for a government that has struggled with liquidity pressures in the past, these warnings of the analyst do not seem to have affected Bukele much.
El Salvador Doesn’t Care!
El Salvador, whose name many of us had not even heard of before September 7, 2021, has been on the agenda of discussions since the parliament passed the Bitcoin Law, but the country expresses at every opportunity that it will continue to buy Bitcoin. These and similar posts by Bukele are the clearest examples of this:
Buying the bottom 😉
150 new coins added.#BitcoinDay #BTC🇸🇻
— Nayib Bukele 🇸🇻 (@nayibbukele) September 7, 2021