Wednesday, December 8, 2021

El Salvador: People protest due to technological glitches & plummet in value of Bitcoin

In Central American country of El Salvador, people protested following technological glitches and a plummet in value of Bitcoin.  The country adopted Bitcoin as legal tender. The price of Bitcoin yesterday crashed to its lowest in nearly a month, falling from 52,000 dollar to under 43,000 dollars at one point. An opposition politician said the fall caused one of Latin America’s poorest countries to lose 3 million dollars. The rollout of Bitcoin in El Salvador was far from what President Nayib Bukele would have envisaged when he began his bold experiment.

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