El Salvador Abandons Bitcoin as Legal Tender After Failed Experiment
El Salvador Abandons Bitcoin as Legal Tender After Failed Experiment
Understand the implications of Bitcoin's downfall in El Salvador. Learn about the failed economic bet and its impact on the country's financial stability.
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The government, she assured, will continue buying bitcoin and having reserves in this cryptocurrency. According to the National Bitcoin Office, El Salvador has 6,050 bitcoins worth $634.8 million. “President Bukele continues buying bitcoin, we have a Bitcoin Office, we have the Bitcoin Law, bitcoin can be used in El Salvador.
They're going to have the US by the balls like Saudi Arabia when bitcoin crosses $1mm/coin
how do you even liquidate that?
You mean if its worth hundreds of millions or trillions?
Yes, even a relatively small quantity like 100k?
That's easy. Ive sold that much. Just do it on an exchange. Get over a million and you do it OTC.
What is OTC?
Over the counter. Big exchanges offer this. Basically p2p with escrow.
Its done off exchange (though usually the same price). To prevent the trade from changing the market.