November 08, 2022

How Has El Salvador Fared Since Accepting BTC?

Featuring Rachel Ziemba

Source: Live Bitcoin News

Journalist Nick Marinoff

At the time of writing, bitcoin use in El Salvador has fallen by roughly 60 percent, no doubt a testament to the poor performance the coin has exhibited throughout the 2022 year. It has indeed been a rough time for everyone’s favorite digital currency. Just one year ago, the world’s primary crypto asset was trading at a new all-time high of about $68,000 per unit. Now, however, the currency is struggling to maintain a position in the low $19K range.

Rachel Ziemba – founder of Ziemba Insights – explained that the government of El Salvador is still claiming the bitcoin experiment to be a success despite the lack of noticeable differences made in the territory’s economic operations. She said: The government claims the developments [are] a success, but most local commentators and international watchers are underwhelmed.

Read the full story and more from Live Bitcoin News.

Authors

  • Rachel Ziemba

    Adjunct Senior Fellow, Energy, Economics, & Security Program

    Rachel Ziemba is an Adjunct Senior Fellow at the Center for a New American Security (CNAS). Her research focuses on the interlinkages between economics, finance and security i...