El Salvador Bitcoin Losses Enough for Its Next Bond Payment

(Bloomberg) — El Salvador’s gamble on Bitcoin has already cost the nation’s cash-strapped government enough to cover its next interest payment to bondholders, showing the increased risks posed by its experiment with the cryptocurrency.

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The rout that has driven Bitcoin down some 40% since late March has deepened President Nayib Bukele’s cumulative losses on the government’s holdings to about $40 million, according to an estimate by Bloomberg. That’s a little…

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