Bitcoin’s plummeting price in January means El Salvador’s BTC reserves are now worth considerably less in US dollar terms than they were when they bought them.
Despite this, El Salvador President Nayib Bukele is confident that the latest mini price recovery is just the start of something significant for the cryptocurrency.
He cites the inbuilt scarcity of bitcoin, which means only 21 million BTC will ever exist. It means there is not enough bitcoin for even half the world’s millionaires to own a whole coin.
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