Jozhe

#Crypto collapse: El Salvador's Bitcoin experiment ends in failure.

El Salvador, the first country to adopt Bitcoin as legal tender in 2021, recently reversed its decision after pressure from the IMF.  It's a lesson for developing nations who aim to seek out economic autonomy by making crypto legal tender.


https://ticotimes.net/2025/02/02/el-salvador-abandons-bitcoin-as-legal-tender-after-failed-experiment?utm_source=Iterable&utm_medium=email&utm_campaign=newsletter-20250206

Crypto

#Crypto collapse: El Salvador's Bitcoin experiment ends in failure.  El Salvador, the first country to adopt Bitcoin as legal tender in 2021, recently reversed its decision after pressure from the IMF.  It's a lesson for developing nations who aim to seek out economic autonomy by making crypto legal tender.   https://ticotimes.net/2025/02/02/el-salvador-abandons-bitcoin-as-legal-tender-after-failed-experiment?utm_source=Iterable&utm_medium=email&utm_campaign=newsletter-20250206

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.

El Salvador Abandons Bitcoin as Legal Tender After Failed Experiment

Nate

Interesting arbitrage trade.

https://markets.businessinsider.com/news/stocks/microstrategy-stock-price-short-report-kerrisdale-177000-bitcoin-premium-btcusd-2024-3?utm_medium=social&utm_campaign=business-sf&utm_source=facebook

MicroStrategy on the other hand.....~ 193,000 Bitcoin acquired for $6.09 billion (currently valued at over $11.7B => profit of around 5.7B if liquidated today) vs just 700 for El Salvador

I mean, they only hold like 150M$. Not a huge amount for a country. But it is funny 😆

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Interesting arbitrage trade.  https://markets.businessinsider.com/news/stocks/microstrategy-stock-price-short-report-kerrisdale-177000-bitcoin-premium-btcusd-2024-3?utm_medium=social&utm_campaign=business-sf&utm_source=facebook

"MicroStrategy shareholders are now paying $177,000 per bitcoin when they could instead gain exposure to the asset" via ETFs, Kerrisdale Capital said.

A short seller says it's buying bitcoin and betting against MicroStrategy because the stock trades at an 'unjustifiable' premium over the crypto itself

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A group of likeminded people in Crypto are talking about this.