- This topic has 13 replies, 2 voices, and was last updated 6 months, 2 weeks ago by CowhideHorder.
- Saturday, May 14th, 2022 at 18:33 #273273Bildozer1909Participant
Cryptocurrency News – BTC crash erases $36 million in value from El Salvador government’s massive crypto investment as national debt grows.
Read Here (Article Link):
What are your thoughts after reading this news article?Saturday, May 14th, 2022 at 18:34 #273276premium3G
That’s not a lot of moneySaturday, May 14th, 2022 at 18:37 #273279pbjclimbing
It makes you understand the scale of the USA when $36,000,000 is worthy of an article for El Salvador, that is like my podunk counties budgetSaturday, May 14th, 2022 at 18:38 #273277ZodiacManiac
Good job it wasn’t a „Stablecoin“ called UST.Saturday, May 14th, 2022 at 18:38 #273275rexxtra
Yeah, they are only investing something like 5% of their GDP anyways. They will be a-okay imho 👍 but I also dont know shit so yaSaturday, May 14th, 2022 at 18:39 #273278AgoraphobicAgorist
That’d barely patch a pothole in the US.Saturday, May 14th, 2022 at 18:44 #273282No_Line9668
Bukele invested taxpayers money he couldn’t afford to lose. Crypto tanks and now El Salvador can’t sell it to cover its debt repayment without a massive loss.
It’s like the guy who put all his money on crypto and now can’t afford to pay rent, but on a macro scale.
El Salvador is the country equivalent of all the people who are broke, and see no way of getting out of poverty, so they bet heavily on crypto thinking it’s their golden ticket.
Sure seemed like a good idea during the bull market. He thought he was going to build a bitcoin city and all. No lambos any time soon Mr. Bukele.Saturday, May 14th, 2022 at 18:45 #273284coinfeeds-bot
tldr; El Salvador, the first country to make bitcoin legal tender, racked up $36 million in cryptocurrency losses on Thursday. The government bought an additional 500 coins at $30,744 each on Monday, President Nayib Bukele said. El Salvador currently owes an estimated $23.3 billion in national debt.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*Saturday, May 14th, 2022 at 18:46 #273281ClubbyTheCub
“erases”Saturday, May 14th, 2022 at 18:50 #273274Old_Rafa
I wonder what the procedures are to avoid Bukele or his political party to put all that BTC into their own wallets once they go out.Saturday, May 14th, 2022 at 18:59 #273283irene74569
it is called volatility. ETFs, stocks… everything experiences this in this worldSaturday, May 14th, 2022 at 19:02 #273285Castr0-
That is a huge crash for my wallet.Saturday, May 14th, 2022 at 19:29 #273280RogerWilco357
That doesn’t really sound like a startling amount of money for a Sovereign Nation.Saturday, May 14th, 2022 at 19:41 #273286CowhideHorder
GUYS DO NOT LISTEN TO THE FAKE NEWSSSS!!!!! 🙌🤞✌🤞✌👏🎊🎉✨ THIS IS THE ELITE’S FAULT 🎃⛔⛔⛔❌🛑❗ TETHER WILL BOUNCVE BACK EVERYTHING WILL BE NORMAL 💞💢💥💓💗❣💔❤ HODL HODL HODL!!! 🎲♟🏆🥇 ELITE WANT OUR BITCOIN! WE NO GIVE!🤷🏻☝🏼😡🤬🥵🥵 WE WILL RISE AGAIN!!! 😥😥😰😰 WE FITE AGAINST ELITE PEDOPHILES 🧤✂🗡⚔🏹🔪🧲 WE HAVE TO BE WOKE OR THEY TAKE OUR BITCOIN!! 👀👁👀👅👄👄🧠🦾 WE WILL INVEST OUR LIFE SAVINGS!!! 🤑🤑🤑 WE WILL BE RICH!!! 🐭🍆🍆 BTC ONLY GO UP FROM NOW⬆️⬆️❄️☃️❄️☃️ ONE TIME CHANCE TO INVEST NOW SO LOW!!! NEVER AGAIN!🥦🌽🥬🥕 BUY THE DIP 🏄🏻♂️🏊🏼♂️🚣🏼♂️🥁🥁🥁 BTC GO TO ONE MILLION!! 🚨🚨🚨🚧🚦🚥 BUY SHIBA AND DOGE FAST 💎💎💎💎💵💵💴💴💳💳 WE HAVE TO HODL TOGETHER!!! 📆📅🗓📔📒📚 I HAD DREAM BITCION GO TO 10 MILLION #VISION #FUTURE #BTC #RICH 📝🔮🔮🔮📿🧿🧿💈💈 WE MUST FIGHT TOGETHER AGAINST THE SYSTEM! 🕵🏼♂️🕵🏼♂️👩🏼🎓👨🏼⚖️👩🏼⚖️💂🏼♂️👩🏼⚕️ I DO NOT TRUST BANKS!!! 🤢🤮🤢🤮😷🤒 -98% IS NORMAL!!! HAPPEND TO BITCONNECT TOO!!!!😮😮😲😮😲😧😑🤭 DADDY ELON WILL SAVE ALL OF US!!! 🥵💦💦🦶🏼✊🏼
- You must be logged in to reply to this topic.
Related Forum Topics:
- → Crypto Crash Erases More Than $1 Trillion in Market Value
- → This is what financial repression looks like. When the currency is constantly inflated while interest on government debt is kept artificially low, people’s purchasing slowly erodes away without them realising. This is how governments try to pay off their debt via this hidden tax. BTC fixes this. [Image]
- → IMF has a working paper which recommends governments to use financial repression combined with inflation to reduce national debt. Financial repression basically means stealing money directly from citizens using negative rates.