News/El Salvador Finance Minister: Bitcoin Crash Poses Extremely Minimal Fiscal Risk

El Salvador Finance Minister: Bitcoin Crash Poses Extremely Minimal Fiscal Risk

Jun 14,2022,23:01
El Salvador's finance minister Alejandro Zelaya said at a recent press conference that the Bitcoin crash poses an extremely minimal fiscal risk to the country. He said, "When they tell me that the fiscal risk for El Salvador because of Bitcoin is really high, the only thing I can do is smile. Any serious economist should feel the same because it is really a very superficial analysis and they speak only from ignorance." El Salvador acquired a total of 2,301 Bitcoin, spending $103 million across ten purchases. This amount of Bitcoin is worth around $50m now. Alejandro Zelaya said, "I have said it repeatedly: an alleged loss of $40 million has not occurred because we have not sold the coins. $40 million does not even represent 0.5% of our national general budget."
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