Could Bitcoin crash make El Salvador go BUST? Govt has lost $40m amid plans to build crypto city 

El Salvador’s Bitcoin bet could be putting the country in peril as its holdings have already lost $40m in amid cryptocurrency rout.

The losses – equal to the Central American country’s next bond payment – come amid a so-called ‘crypto winter’ and the president’s plans to build a volcano-powered ‘crypto city’ to mine bit coin.

President Nayib Bukele announced in September that El Salvador would become the first country in the world to accept Bitcoins as legal tender and forked out $105 million…

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Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

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