Why El Salvador's Bukele Is Doubling Down on Bitcoin Despite the Crypto Crash
7 days ago - By Time
The cryptocurrency crisis, worsened by the dramatic collapse of fast-growing crypto exchange FTX in mid-November, has raised questions about the future of these digital currencies. Bitcoin, the largest and most well known among them, has fallen to a two-year low in recent days. But one of the cryptocurrency's most prominent backers is doubling down.
On Nov. 17, El Salvador's President Nayib Bukele , who last year made his country the first in the world to adopt Bitcoin as legal tender , responded to the crypto slide with a pledge that the government would purchase one Bitcoin every day...
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