El Salvador Loses $38M In Bitcoin Crash, Faces Potential Default!

[Kool-Aid]

El Salvador Loses $38M in Bitcoin Crash, Faces Potential Default

Having made Bitcoin legal tender in September 2021, the country has made several big currency purchases, frequently buying at prices well in excess of $40,000.

www.newsweek.com

 

[MOEMONEY]

BTC $28k... i thinking this bear market will take longer to recover... 4 years

 

[Omar del Sur]

I don't know much about the details of all this but the Western media is extremely biased when it comes to El Salvador. They're not trustworthy at all when it comes reporting on that country.

 

[Omar del Sur]

from the article in OP:

"The IMF was blunt in its assessment on El Salvador in January.

In a consultation document, the IMF said regarding Bitcoin: "Efforts to improve financial inclusion are welcome, but Bitcoin use carries significant risks and Bitcoin should not be used as an official currency with legal tender status."

The IMF executive board urged El Salvador to reverse track and remove Bitcoin's legal tender status, and expressed doubts about the plan for Bitcoin-backed bonds.

In response, in February credit rating agency Fitch downgraded El Salvador's long-term debt rating from 'B-' to 'CCC,' putting it in the category where "default is a real possibility.""



see they're trying to press El Salvador on how to run their economy.... they don't like El Salvador doing the Bitcoin thing.... the Western media hates the President of El Salvador.... the man is massively popular amongst Latin Americans and with a lot of Latin American media but then you look at the Western media and it's like they paint him in the worst way they possibly can....

 

[Ahmed123-]

the people of El Salvador need to start a coup to kick this retard nigga out of office nigga bought at the top 60k they haven't even made a single penny yet

 

[Kool-Aid]

the people of El Salvador need to start a coup to kick this retard nigga out of office nigga bought at the top 60k they haven't even made a single penny yet

This guy is all in on crypto. I feel bad for the people of El Salvador.

 

[Last Laugh]

The biggest ponzi scheme in the history of mankind since taxes

 

[Omar del Sur]

the people of El Salvador need to start a coup to kick this retard nigga out of office nigga bought at the top 60k they haven't even made a single penny yet

President Bukele is one of the best presidents in North or South America. The Western propaganda machine can attack him all they want but the man has massive popular support because his people know about the accomplishments he's made on behalf of his country.

 

[Periplus]

President Bukele is one of the best presidents in North or South America. The Western propaganda machine can attack him all they want but the man has massive popular support because his people know about the accomplishments he's made on behalf of his country.

So you support ex-Muslims now as long as they’re sticking it to the West??

 

[Omar del Sur]

So you support ex-Muslims now as long as they’re sticking it to the West??

That's the first time I see that picture. Honestly, I have no idea what Bukele believes in terms of religion.

"The son of a Muslim imam and a Christian, Bukele describes himself as believing in God rather than an adherent to a religion, an apparent effort to steer clear of any anti-Muslim sentiment."'

Nayib Bukele of Palestinian descent gets sworn in as El Salvador’s president

Nayib Bukele, a businessman and former mayor of Palestinian descent, took office Saturday as president of El Salvador, tasked with turning around grinding

english.alarabiya.net

alarabiya describes it well. he's kind of weird and vague as far as religion. and then as well.... as arabiya says- is his vagueness on the topic just to avoid anti-Muslim sentiment? he could be sort of quiet about whatever it is he actually believes due to the fact that El Salvador is super Catholic.



here they ask him about it, he doesn't deny he's a Muslim. he is vague as hell and his response honestly makes me wonder if he's a crypto-Muslim hiding what he believes to appeal to the Catholic audience of El Salvador. He doesn't say straight up say he's not a Muslim or that he's a Christian- he says that he believes in Jesus (peace be upon him). Well, I believe in Jesus too. I am not sure what he believes.


anyways, I think what you're saying is I'm some sort of hypocrite because I don't treat Bukele like an aggressive SomaliSpot atheist attacking Islam or attacking its rulings. that is true. some guy where he's very vague and I'm not sure what he believes- that's different to me than someone that's overtly anti-Islam.

anyways, I support that he is helping to clean up El Salvador from the gangs.

https://www.somalispot.com/threads/el-salvadors-president-lashes-out-at-ngos-threatens-gang-members.130696/