A central American country, El Salvador, has been buying Bitcoin since September. However, the country’s big bet on crypto has collapsed in recent weeks because the cryptocurrency washed out roughly a third of the value of the government’s assets.
El Salvador is the first country to adopt bitcoin as a legal tender. They also plan to create a crypto mining hub using power from volcanoes and issue the first sovereign bond linked to bitcoin.
ການອ່ານທີ່ກ່ຽວຂ້ອງ | 44 ປະເທດທີ່ກໍານົດໄວ້ເພື່ອຕອບສະຫນອງ El Salvador ເພື່ອປຶກສາຫາລືກ່ຽວກັບ Bitcoin, ນີ້ແມ່ນສິ່ງທີ່ພວກເຮົາຮູ້
Crypto Crash ປິດເສັ້ນທາງທີ່ເປັນໄປໄດ້ສະເພາະ
Apart from a significant rise in debt repayment obligations and an increase in the global borrowing costs, El Salvador is also facing a big challenge of the effects of currency depreciation. However, the crypto collapse has closed specific potential escape routes from the crisis, like the now-delayed bitcoin bond.
Ricardo Castaneda, ເຮັດວຽກເປັນນັກເສດຖະສາດອາວຸໂສແລະຜູ້ປະສານງານປະເທດຂອງ El Salvador ແລະ Honduras ຢູ່ທີ່ think tank Central American Institute for Fiscal Studies (ICEFI), ກ່າວວ່າ;
The government’s financial problems are not because of bitcoin, but they have gotten worse because of bitcoin,” For the government, bitcoin ceased to be a solution and has become part of the problem.
Since last September, when El Salvador officially adopted Bitcoin as legal tender, the coin price has dropped 45%. And from its May high, the BTC has lost 26% of its value as investors have shifted their money into other assets.
ອີງຕາມການ CoinMarketCap, ມູນຄ່າຕະຫຼາດທັງຫມົດຂອງ cryptocurrencies ໄດ້ຫຼຸດລົງພຽງແຕ່ $ 1.2 ພັນຕື້, ຫນ້ອຍກວ່າເຄິ່ງຫນຶ່ງຂອງຈຸດສູງສຸດໃນເດືອນພະຈິກ.
ອີງຕາມ Statistaຫນີ້ສິນຂອງ El Salvador ເພີ່ມຂຶ້ນເປັນ $ 24.4 ຕື້ໃນເດືອນທັນວາເມື່ອທຽບໃສ່ກັບພັນທະລວມຂອງ $ 19.8 ຕື້ໃນເດືອນທັນວາ 2019. ການເພີ່ມຂຶ້ນຢ່າງຫຼວງຫຼາຍແມ່ນເກີດຂື້ນຍ້ອນຄ່າໃຊ້ຈ່າຍທີ່ຫນັກຫນ່ວງໂດຍການຄຸ້ມຄອງ Bukele ເຮັດເພື່ອຮັບມືກັບການລະບາດຂອງ COVID-19 ແລະສອງສາມປີຜ່ານມາ. ' ການສູນເສຍເສດຖະກິດ.
ອົງການກອງທຶນເງິນຕາສາກົນ (IMF) ເຊື່ອວ່າ ການຂາດດຸນບັນຊີປະຈຸບັນຂອງເສດຖະກິດຂອງປະເທດ El Salvador ແມ່ນອີງໃສ່ການສົ່ງເງິນຈາກຄົນອາໄສຢູ່ຕ່າງປະເທດ ແລະ ການລົງທຶນຈາກຕ່າງປະເທດ ປະມານ 2 ຕື້ໂດລາສະຫະລັດຕໍ່ປີຈົນເຖິງປີ 2025.
Effects Of Legalizing Bitcoin
The legal acceptance of Bitcoin by El Salvador created distance from the global lenders like IMF, from where Alejandro Zelaya, the Finance Minister, was ຄາດວ່າ ເງິນກູ້ 1.3 ຕື້ໂດລາ ເປັນເວລາ 36 ເດືອນໃນປີທີ່ຜ່ານມາ.
IMF advised El Salvador to drain off Bitcoin completely. As per the statement of an IMF administrative, any credit approval deal will have to highlight risks like “those related to the adoption of bitcoin as legal tender and risks related to economic governance.”
ການອ່ານທີ່ກ່ຽວຂ້ອງ | El Salvador ເພີ່ມຂຶ້ນສອງເທົ່າ, ຊື້ 500 BTC ທ່າມກາງການຫຼຸດລົງ
Siobhan Morden, ຫົວຫນ້າຍຸດທະສາດລາຍຮັບຄົງທີ່ຂອງອາເມລິກາລາຕິນຂອງ Amherst Pierpont, ກ່າວຄໍາເຫັນ,
If there isn’t potential for bitcoin-growth dividends or innovative bitcoin-financing, then the Bukele administration will have to prioritize spending priorities and identify financing options
As per an estimate, almost a $36 million loss in Bitcoin; the government purchased 2,301 coins worth $104.2 million and now depreciated to $67.9 million due to a decrease in the coins’ market price.
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Source: https://bitcoinist.com/el-salvador-faces-no-easy-exit-from-worsening-crisis-amid-crypto-crash/