Bitcoin-boosting Salvadoran leader may have second thoughts

Published June 15, 2022 5:37 PM

SAN SALVADOR, El Salvador (AP) — El Salvador’s Bitcoin-boosting president may be having second thoughts about the crypto-currency, whose value has tanked in recent weeks. President Nayib Bukele became the first leader in the world to make the crypto-currency legal tender last year. And Bukele has plowed tens of millions of government money into Bitcoin. At one point earlier this year he crowed over “buying the dip,” even the price has slid further since then. But when a Bitcoin publication crowed that El Salvador has lost “only” $40 million on its investment in the currency also known as “BTC,” Bukele tweeted incredulously: “You’re telling me we should buy more #BTC?”