Alejandro Zelaya, Treasury minister of El Salvador, explained that the conflict happening currently between Ukraine and Russia has influenced the price of bitcoin on international markets, disrupting it.
Military conflict and geopolitical unrest might be affecting the performance of the price of bitcoin in the cryptocurrency market.
With the arrival of the conflict between Russia and Ukraine, many investments in crypto became investments in companies related to the arms industry.
Furthermore, Zelaya explained that, due to this disruption in prices caused by the aforementioned conflict, it is not the time to issue El Salvador’s volcano bonds.
Zelaya called out experts that are criticizing the bitcoin purchases that the government of El Salvador has executed through its president, Nayib Bukele.
They always come out and say ‘they’ve lost,’ when we haven’t really sold the coin.
Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.
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