As Bitcoin drops, fear for the Salvadoran economy rises. – Slate

As Bitcoin drops, fear for the Salvadoran economy rises. – Slate

On June 7, 2021, El Salvador President Nayib Bukele announced an audacious plan: to make Bitcoin legal tender.

Anna-Cat Brigida is a reporter who covers Latin America. She lives in Honduras now, but was based in El Salvador when Bukele made his announcement. From there, Brigida says, everything went at full speed. Within 90 days El Salvador had to build its own Bitcoin wallet, install Bitcoin ATMs, and sell the country’s population on the idea of Bitcoin—an idea that had been brought…


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