Bitcoin, which fell sharply after El Salvador began to recognize it as its official currency, caused protests across the country. The opposition argued that the decision was a mistake and that this mistake cost El Salvador 3 million dollars.
In a news we shared with you yesterday, we said that the date of September 7 is very important for the crypto money community because for the first time, a country will recognize Bitcoin as its official currency. That country was El Salvador, which was struggling with economic problems. Despite all the unknowns about Bitcoin, the government has officially launched this cryptocurrency. However, the account at home did not fit the market.
On the first day that Bitcoin was accepted in El Salvador, there was a very serious crash in Bitcoin. The cryptocurrency, which was traded at $ 52 thousand, experienced a sharp decline to $ 43 thousand. Although it recovered somewhat later, the cryptocurrency, which was stuck at $ 46 thousand as of 15:30, caused the money in the pockets of El Salvadorans to depreciate. As such, news of protests began to come from all over the country.
The demonstrations that broke out in El Salvador also created an opportunity for the opposition. Opposition parties, who said that the government’s decision was strongly opposed, claimed that 3 million dollars of the country was vaporized with the decline in Bitcoin. In the statements made by Johnny Wright Sol; “It was a very bad day for the government of Nayip Bukele, President of El Salvador, and the Bitcoin experiment. The majority of the population knows very little about cryptocurrencies. What we do know is that the market is very volatile. What happened today has certainly shown that. Bitcoin law is almost without controversy in Congress. “It took only 5 hours to pass. We are not anti-cryptocurrency or Bitcoin enemies, but we don’t think businesses should be required to accept Bitcoin for payment. The government supports these payments and bears the risk, but at the end of the day, that money comes out of us taxpayers.” used the phrases.