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Already losing money

Salvador’s president, Nayib Bukele, waves during his inauguration ceremony at Gerardo Barrios Square outside the National Palace in downtown San Salvador, on June 1, 2019.
Salvador’s president, Nayib Bukele, waves during his inauguration ceremony at Gerardo Barrios Square outside the National Palace in downtown San Salvador, on June 1, 2019. Photo: Oscar Rivera/AFP (Getty Images)

President Bukele announced earlier this week that the government of El Salvador is holding 400 bitcoin, roughly the equivalent of $20.5 million when he made the announcement. As of this morning, that 400 bitcoin is worth just $18.5 million, meaning that the government already lost $2 million in a single day.

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