Bitcoin-Trading President likely Lost Money for his Country

He’s probably the only head of state who uses public money to trade Bitcoin with his phone. But El Salvador’s President Nayib Bukele has most likely lost money for his country.

There is a lot of secrecy surrounding the process. But based on what Bukele has said on Twitter, El Salvador has bought at least 1,391 Bitcoins.

It is estimated that would have cost the country around $71 million, based on the date and time that Bukele tweeted about the deals. Assuming they’ve held on to the digital coins, they’re now worth around $61 million.