El Salvador May Have Lost $10 Million as Cryptocurrencies Slump

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El Salvador May Have Lost $10 Million as Cryptocurrencies Slump
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Amid questions about how the country trades crypto. 🪙 engineering

According to Bloomberg's calculations, based on the timing of tweets and then prevalent rates of Bitcoin, El Salvador has purchased $71 million worth of the cryptocurrency.

If the country held on to all the Bitcoin, as of Wednesday, they are approximately worth $61 million, resulting in a $10 million or 14 percent loss, the media outlet reported. Alejandro Zelaya had earlier said that a team of government officials take a call on whether to buy or sell Bitcoin, a tweet from Bukele says a different story.

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