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Bitcoin El Salvador: Nayib Bukele, teases economist Steve Hanke

El Salvador pays $800 million in debt and criticizes media on Twitter
Bitcoin El Salvador: Nayib Bukele, teases economist Steve Hanke
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On the 15th of October the price of bitcoin surpassed $60 per unit, the President of El Salvador Nayib Bukele mocked Johns Hopkins University Applied Economics Professor Steve Hanke because of his recent statements. At the time, the well-known economist warned that El Salvador faces “financial ruin” with “Bukele at the helm”, after the president of El Salvador bought the bitcoin dip when the price crashed.

Johns Hopkins University professor of applied economics Steve Hanke criticized the Salvadoran president and tagged him in a Twitter post on September 23.

"Nayib Bukele is playing fast and loose with El Salvador’s tax dollars again,” Hanke said. “After bitcoin prices fell to a 6-week low, Bukele bought 150 more coins [and] proudly said that 'We just bought the dip.' With Bukele at the helm, the ELSL faces financial ruin. ”

Meanwhile, the top crypto asset bitcoin (BTC) tumbled into a dip in September, but as the month transitions into October, the BTC price shot. On October 15, Bukele decided to retweet Hanke's September 23 statement and added his own comment. "Were you saying?" Bukele provoked the well-known economist. Since then, BTC has hovered above the $60K price range for the past 24 hours.

The next day, Hanke responded and said, “Yes, I was saying 'financial ruin.' Have you seen the fall in the price of El Salvador's dollar-denominated bonds since September 7th? Hanke asked Bukele. “As traders say, El Salvador bonds maturing in 2023, 2025 and 2029 are 'in trouble,'” added Hanke.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.

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