“El Salvador just bought 200 new coins,” President Nayib Bukele tweeted on Monday night. “We now hold 400 #bitcoin”. Wow. This is both amazing and insane. Amazing because El Salvador is now treating BTC as a “fiat” currency. Insane because BTC is too volatile for such a poor country to use this way. Four weeks ago, BTC was trading at ~$29k. This morning it’s at ~$50k. Imagine if the U.S. dollar fluctuated that much over any given month.
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