El Salvador's Crypto Winter: One Year Later | Crypto

El Salvador’s Crypto Winter: One Year Later

– It has been a little over a year since El Salvador made bitcoin legal tender and began filling its coffers with the cryptocurrency.
– Since the closely watched and hotly debated move, Bitcoin has lost over 50% of its value, currently trading around $19,000.
– El Salvador doesn’t make its bitcoin holdings public, but the Nayib Bukele Portfolio Tracker, which tracks Twitter purchase disclosures from the country’s president, estimated El Salvador has purchased almost 2,400 bitcoins.
– Based on average purchase prices, El Salvador’s portfolio would be down around 58%, excluding any potential sales or undisclosed purchases.
– The tracker projects El Salvador spent $107 million on bitcoin and lost more than $61 million.
– Despite the projected losses, Bukele and other leaders celebrated the anniversary of El Salvador’s adoption in a series of #BitcoinDay Tweets.

crypto 090822 El Salvador's Crypto Winter: One Year Later

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