El Salvador’s reckless move: bitcoin becomes official currency

The introduction of cryptocurrency as an official currency in Central America was desired by a sui generis president, a little Macron and a little Chavez. Salvadoran citizens, academics and international economic institutions do not approve of the decision On the same topic: The crazy dance of bitcoins Why do bankers flirt and demonize Bitcoin & Co. Cryptocurrencies have made the internet an insecure place.

Since Tuesday 7 September, El Salvador is the first country in the world to have bitcoin as its official currency, alongside the dollar. But immediately the value of the same bitcoin fell by 9 percent: the same figure that etherum, the second most quoted cryptocurrency, also fell at the same time. Bitcoin has been subject to fluctuations for quite a while, and for example, after reaching $ 64,000 in April, it plummeted in May. El Salvador has thus lost 2.7 million, but President Nayib Bukele assures us that there is no need to worry, because it was expected. In fact, it was precisely the purchase of 550 bitcoins between Monday and Tuesday by his government that caused prices to rise, and a decline after departure was, according to him, physiological.