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El Salvador's Crypto Plan Is Bitcoin's Biggest Test Yet
Posted
September 8, 2021
Views
934
Likes
14
Comments
16
Engagement
3.21%
September 8, 2021
934
14
16
3.21%
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2:25Now PlayingBitcoin nursed losses Wednesday after plunging amid El Salvador’s troubled rollout of the largest cryptocurrency as legal tender.
The virtual coin was trading near $46,260 as of 12:32 p.m. in New York, having slid as much as 17% a day earlier before paring some of the losses. The downdraft also swept across tokens such as Ether and Dogecoin, as well as the Bloomberg Galaxy Crypto Index.
El Salvador’s experiment with Bitcoin -- the biggest test of the token’s real-world usefulness -- had a rocky start because of technical glitches to the official digital wallet. El Salvador disconnected the wallet between 1 a.m. and 6 a.m. to fix bugs, President Nayib Bukele said Wednesday.
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