Tuesday November 22, 2022 – It is Crypto-Tuesday – Today we revisit El Salvador. It was just about a year ago, September 2021, that the El Salvador government adopted bitcoin as legal tender along with U.S. dollars.
This experiment has not turned out as anticipated. In September 2021 Bitcoin was trading at around $45,000.00. Two months later, BitCoin was trading above $69,000.00.
Today, Bitcoin is trading at around $16,000.00.
Rather than back off, Nayib Bukele, the President of El Salvador, announced that El Salvador will continue to buy – at 1 Bitcoin per day.
Attorney Steven A. Leahy looks back – and ahead – on the El Salvador BitCoin experiment.