which is about 75% below its ATH of $69,000 in November 2021. Bitcoin (BTC) experienced sharp declines.
While investors who invested in Bitcoin suffered huge losses, in September of last year, the one who accepted Bitcoin as legal money El Salvador also inflicts great damage.
According to the data, 2381 in the hands of El Salvador bitcoin exists. According to the average Bitcoin purchase cost, El Salvador has a 50% loss.
bitcoin El Salvodor, who continues to defend BTC despite being at a loss due to his purchases, Finance Minister Alejandro Zelaya In an interview with Bloomberg, bitcoin defended his strategy.
Noting that Bitcoin attracts investments in tourism and various fields, the finance minister also stated that BTC also helps them bring financial services to a population that is largely unbanked.
Zeleya said that the rate of use of Bitcoin as a currency in the country is still low, but BTCHe said they continue to believe in .
Zeleya, El Salvador blockchain He added that he is still determined to issue a Bitcoin-backed bond using its technology, but that they will issue it when market conditions improve.
“While Bitcoin is something new and unexplored to some, for us it is a phenomenon that has gained solid ground and will continue to exist for years to come.”
According to a recent survey by the US National Bureau of Economic Research, the majority of consumers BTC prefers to pay in fiat currency instead.
Despite these survey results, Zelaya bitcoin and cryptocurrencyHe thinks they will take on more roles in the future.
In his previous statements, the finance minister had said that the concerns that the fall in the price of Bitcoin would harm El Salvador’s financial statement were unfounded, and that the country’s financial risk was extremely low due to the BTC price drop.