El Salvador's unrealized Bitcoin losses reach 60 million dollars

ChainCatcher news, according to CNBC, since Salvadoran President Nayib Armando Bukele Ortez announced Bitcoin as legal tender and publicly declared the purchase of Bitcoin, the country's unrealized losses on Bitcoin have reached $60 million.

It is estimated that due to the decline in Bitcoin prices, El Salvador's "Bitcoin experiment" and all associated costs have resulted in an overall loss of $375 million for the government. However, considering that El Salvador has $7.7 billion in outstanding debt and a $29 billion economy, this proportion is not significant. (Source link)