Bukele’s Bitcoin trade raises El Salvador’s sovereign credit risk: Moody’s

Bukele’s Bitcoin trade raises El Salvador’s sovereign credit risk: Moody’s

The credit rating agency believes El Salvador’s Bitcoin experiment has elevated the country’s risk profile and could limit its access to foreign debt markets. El Salvador’s historic embrace of Bitcoin (BTC) could have negative consequences on the country’s sovereign credit outlook, according to Moody’s Investors Service. Moody’s analyst Jaime Reusche told Bloomberg this week that El Salvador’s Bitcoin gambit “certainly adds to the risk portfolio” of a country that has struggled with liquidity issues in the past. Under the leadership of President Nayib Bukele, El Salvador has recognized....


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