Unlike in previous crashes, the president of El Salvador, Nayib Bukele, who made bitcoin legal tender a year ago, did not exhort his followers to "buy the dip". The laser eyes, popular among crypto traders, have long since been removed from his Twitter profile.
On the day that FTX declared insolvency, he announced that the country would sign a free trade agreement with China. His vicepresident, Félix Ulloa, said China had offered to buy the country's $21bn in foreign debt as part of the deal. The Central American country of 6.5 million finds itself in a tough financial position. In January, it must pay €667m (£583m) for a Eurobond amortisation. At the beginning of the year, Bukele promised that his country would issue bitcoin-denominated bonds to pay off national debt and forecast that the price of bitcoin would reach $100,000.
Diese Geschichte stammt aus der November 16, 2022-Ausgabe von The Guardian.
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Diese Geschichte stammt aus der November 16, 2022-Ausgabe von The Guardian.
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