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9/7/21

El Salvador Adopts Bitcoin as Legal Tender; Price Falls Most in a Month



El Salvador’s experiment using Bitcoin had a rocky start as its price crashed on its first day as legal tender, while the roll-out was hampered by technical glitches. The cryptocurrency plunged as much as 17% to its lowest level in a month amid news that the government disconnected its Bitcoin wallet early on Tuesday to fix problems. By late morning, the issues appeared to have been overcome, and President Nayib Bukele tweeted that the app was again available for download. The largest cryptocurrency fell as low as $43,050 in New York Tuesday, before paring losses. Bukele said his country had taken advantage of the crash to “buy the dip”, adding 150 coins to take its total holding to 550, worth about $26 million. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Subscribe to our newest channel Quicktake Explained: https://bit.ly/3iERrup Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit https://bloom.bg/2UdVC2M, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://bit.ly/2J5MnQe Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://bit.ly/35epL8Q Instagram: https://bit.ly/32sC5jW


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