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September 8, 2021 | El Salvador’s Bitcoin experiment

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

Being paid in highly volatile digital currencies that are pumped and dumped by speculators hourly, is a risk that workers cannot afford.  After rebounding nearly 75% since July, Bitcoin fell 10% in an hour yesterday and the Bloomberg Galaxy Crypto Index, which tracks some of the largest digital tokens, lost as much as 19 percent.  See:  Bitcoin crashes as El Salvador rollout, price pump falter:

El Salvador became the first country in the world to adopt bitcoin as its national currency, allowing people to use a digital wallet to pay for everyday goods. Here’s what the impoverished nation’s risky experiment looks like. Here is a direct video link.

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September 8th, 2021

Posted In: Juggling Dynamite

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