Cryptocurrencies have continued to tumble this week with billions wiped from the value of tokens like Bitcoin. The crash is affecting investors worldwide, including the government of El Salvador. The Central American country has poured millions of dollars into Bitcoin and made it legal tender nine months ago, encouraging people to use it for day-to-day transactions. The decision by President Nayib Bukele to make the cryptocurrency legal tender means that in theory it must now be accepted by all businesses, alongside El Salvador’s other currency. Will El Salvador’s big crypto gamble pay off?
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