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El Salvador Big Loss?

  • Thread starter Thread starter Suba
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Suba

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Currently the price of Bitcoin is $30k, which has cost investors both retail and big scale investors. Likewise, El Salvador is estimated to have lost $39 million.
Could EL Salvador go into Default, to pay off its debts?
 
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Suba said:
Currently the price of Bitcoin is $30k, which has cost investors both retail and big scale investors. Likewise, El Salvador is estimated to have lost $39 million. From published data, El Salvador has bought $105 million in Bitcoin and currently owns about 2,301 Bitcoins.
Could EL Salvador go into Default, to pay off its debts?
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It is too early for us to judge because bitcoin has the antecedent to surge in the future. The major cause of the dip is the regulatory scrutiny that has been adopted by most of the countries on cryptocurrencies.
 
El Salvador is in a big loss because they bought the Bitcoin when the price was high. The best thing for the country to do presently is to buy the deep so that they could recover from the loss when Bitcoin makes a rebound.
 
How much loss the country has made now that the price of bitcoin is less than $17k
 
Nomad said:
How much loss the country has made now that the price of bitcoin is less than $17k
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As at October last year, it was estimated that El Salvador has lost $60 million and the total estimated amount of Bitcoin financing was $375 million.
 
Lens said:
As at October last year, it was estimated that El Salvador has lost $60 million and the total estimated amount of Bitcoin financing was $375 million.
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That is a lot
I think they were not able to strategize well before investing in Bitcoin.
 
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