Salvador: disillusionment after a year of using bitcoin – France 24

In El Salvador, disillusion after a year of using bitcoin © AFP

In El Salvador, bitcoin became a legal currency, like the dollar, a year ago. At first, the president wanted to believe that this could allow the many emigrants to exchange money easily with their families back in El Salvador, and create wealth to strengthen the economy. But today, the price of cryptocurrency is in free fall, the population hardly uses it anymore and the country loses millions by clinging to bitcoin while the IMF regularly calls on the country to abandon this means of insecure payment.


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