Post
Topic
Board Bitcoin Discussion
Re: El Salvador loses more than half the value of its reserves in bitcoins
by
Ale88
on 24/06/2022, 23:38:44 UTC
$50 million is really a small sum for any country, even as small as El Salvador. If they had 10% or higher of their foreign currency in Bitcoin, this would be a problem. I'm actually surprised that despite all the Bitcoin maximalism rhetoric, El Salvador didn't go as much all in on Bitcoin as Microstrategy did.
I think it's actually closer to $100 mln instead of $50 mln but yeah, it doesn't change your point and I agree with that: for a country that's a very small amount of money, even for a very small one like El Salvador.