Howestreet.com - the source for market opinions

ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION

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.

STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the HoweStreet.com Weekly Recap.

September 8th, 2021

Posted In: Juggling Dynamite

Post a Comment:

Your email address will not be published. Required fields are marked *

All Comments are moderated before appearing on the site

*
*

This site uses Akismet to reduce spam. Learn how your comment data is processed.