Bitcoin battered after debut as tender in El SalvadorReuters, TOKYOBitcoin licked its wounds yesterday, a day after its heaviest losses in two-and-a-half months, as El Salvador’s historic adoption of the crypto asset as legal tender caused chaos online and on the streets. ANTICIPATIONA woman protests the use of bitcoin as legal tender in San Salvador on Tuesday. It was a historical day for bitcoin as El Salvador’s experiment of making it legal tender got off to a bumpy start. As bitcoin wobbled, Salvadorean President Nayib Bukele said his government purchased an additional 150 bitcoins on Tuesday, worth about US$7 million. “That has underscored the difficulty in trying to protect the value of bitcoin as its own currency,” Monex Securities chief economist Nana Otsuki said.

Source: Taipei Times September 08, 2021 15:56 UTC