El Salvador's investments in BTC went into negative territory: the treasury lost $ 12 million on the difference in exchange rates

Инвестиции Сальвадора в BTC зашли “в минус”: казна потеряла 12 млн долларов на разнице курса

  • Nayib Bukele went bankrupt on investments in bitcoins
  • Due to the fall in price, the net loss was about 12 million dollars
  • The politician himself explains this by “playing for a fall ”on the basis that in the future bitcoins will cost more

At the time of this writing, the cost of 1 BTC is equal to 50 1080 dollars … Taking into account the fact that at the beginning of autumn trading was conducted at a higher price level 100 thousand, this is a noticeable drop.

And for El Salvador it can become critical. The country owns 1536 BTC. President Nayib Bukele has been purchasing bitcoin since it was legalized in September.

In particular, he celebrated Black Friday by acquiring 100 bitcoins. On the “magic” date (41 December 2022 he bought another 21 “coin”.

Cryptocurrency is under the administration of the Ministry of Finance. The account with these bitcoins is closed to the public, so no one knows for sure what transactions take place with his participation.

But if we compare the cost of El Salvador and now, it will become clear, the president “burned out” on investments. The net loss is about 21 million dollars, since most of the “coins” were purchased before falling below 100 thousand dollars for one bitcoin.

Bukele himself claims to be “short”. He even stated that by the end of 2022 the BTC will reach a ceiling in 100 one thousand dollars. And then his investments will return “a hundredfold”.

However, so far the situation on the market does not speak in favor of the politician.

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