Moody’s Investors Service recently claimed that El Salvador’s Bitcoin trading activity is boosting the nation’s risk of default. Like most other groups to speak out against the experiment, President Nayib Bukele publicly disregarded their opinion.
Moody’s Take On El Salvador
The ratings agency discussed El Salvador’s Bitcoin-related risks in conversation with Bloomberg last Wednesday. Analyst Jaime Reusche claimed the country’s Bitcoin holdings “certainly add to the risk portfolio,” particularly for a government that has encountered liquidity issues before.
El Salvador has been increasing its Bitcoin position at every available opportunity since making it legal tender in September. Based on the president’s Twitter updates, the country is estimated to hold 1391 Bitcoin at present, worth about $58 million at the time of writing.
However, based on Moody’s estimates, the country is down $10-20 million on that position since buying.
“If it gets much higher, then that r
We współpracy z: https://cryptopotato.com/bukele-doesnt-care-about-el-salvadors-downgraded-sovereign-debt/
