El Salvador’s President, Nayib Bukele, remains popular despite poor Bitcoin bet
Join Our Telegram channel to stay up to date on breaking news coverage The President of El Salvador, Nayib Bukele, led the country into passing a Bitcoin law in September last year. The country accepted Bitcoin as legal tender and invested money into buying the cryptocurrency. However, with Bitcoin losing two-thirds of its value this year, El Salvador’s Bitcoin bet has been seen as a bad one. Bukele remains popular despite his poor Bitcoin plan El Salvador invested $107 million into buying Bitcoin to support the country&rsquo ;s Bitcoin law. However, the Bitcoin bet is not paying off, with the investment losing more than $61 million. Data also shows that many citizens are also not using the currency. The economy of El Salvador is also not doing well. The International Monetary Fund (IMF) warned that the economy of El Salvador would only increase by 1.7% in 2023, which would feel like the economy was in a recession. However, the economy&rsquo ;s performance has not a...