With Market Crash, El Salvador Is Down $52M on Its Bitcoin Bet
— Position, Coins, Salvador, Noting, Crash, Fiscal position, Bitcoin losses posed “ extremely minimal ” risk, Zelaya, Market, Risk — 1 min read
El Salvador's finance minister says bitcoin losses pose "extremely minimal" risk to country's fiscal position. He says the amount is less than 0.5% of the government's budget. Zelaya says any loss for now is unrealized because the country hasn’t sold any of its coins. El Salvador Finance Minister Alejandro Zelaya: Losses are unrealized so far because country hasn't sold any coins to the bitcoin market. The country's bitcoin losses are estimated to be less than 1% of its budget. Read more from CNN.com/El Salvador here: Bitcoin losses are 'extremely minimal' and 'extremely low risk to the country's financial position' in the U.S., says Zelaya.Read more from El Salvador Source