El Salvador promised its citizens that adopting bitcoin would help them access banking, save money on remittances and boost the economy. Now the crypto crash is bringing them yet more financial pain
a press conference on 13 June that the risk of the bitcoin fund was “extremely minimal” and that the country hasn’t lost anything as it hasn’t yet sold its holdings.
But the drop in value is a vast sum in a low-income nation of 6.5 million people with growing debt and an economy less than a hundredth of the size of the UK’s.
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