El Salvador's $329 million bet on Bitcoin's potential to transform its economy is facing sharp criticism, as a new report by human rights group Cristosal raises questions about the venture's financial prudence and transparency
suggests the country has spent approximately $329 million on the project with very limited success.
Released by human rights watchdog Cristosal, the report details the costs associated with the country's Bitcoin adoption, including infrastructure setup and related incentives. This comes at a time when the global inflation rates are spiking and concerns are mounting over the lack of transparency and effectiveness of El Salvador'sThe report is based on limited publicly available information, primarily from President Nayib Bukele’s Twitter account, legislative records, and U.S.
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