Bitcoin Trades Raise El Salvador’s Risk Profile, Says Moody’s - Aliens: AI Crypto News & Markets Updates

Feed

News

Live News

About

Advertise

Latest

Bitcoin

Ethereum

NFT

Gaming

Policy

Blockchain

Altcoins

Bitcoin Trades Raise El Salvador’s Risk Profile, Says Moody’s

PublisherPublisher
BeInCrypto

Fri, Jan 14, 2022

Banner

Aliens TLDR

Trading Bitcoin is only worsening El Salvador’s already weak sovereign credit outlook, according to Moody’s Investor Services.

Trading Bitcoin “is quite risky, particularly for a government that has been struggling with liquidity pressures in the past,” said Moody’s analyst Jaime Reusche.

He added that the government’s current Bitcoin holdings “certainly add to the risk portfolio.” El Salvador’s current owns an estimated 1,391 Bitcoin, which at current prices amounts to just under $60 million.

Moody’s estimates that El Salvador’s Bitcoin holdings could be down between roughly $10-20 million at current market prices.

Last July, Moody’s downgraded El Salvador to Caa1, reflecting a “very high credit risk,” citing a “deterioration in the quality of policymaking.” In spite of these appraisals, Finance Minister Alejandro Zelaya believes that the adoption of Bitcoin has attracted foreign investment to the country.

Read full article on Aliens appRead from Original Source

The best experience is on the app

Everything happening in the crypto world, in real time

app

Recommended Stories

Article list item background

Bitcoin and Ethereum Struggle, ADA and AXS Surge

Bitcoin price is struggling to settle above USD 43,500. Ethereum is consolidating near USD 3,300, XRP is below USD 0.80. ADA gained over 9%, and AXS is showing positive signs.
Cryptonews
·

6h

bitcoin

Recommended Stories

Article

Bitcoin and Ethereum Struggle, ADA and AXS Surge

Article

Walmart filings reveal plans to create cryptocurrency, NFTs

Article

Walmart is getting serious about the metaverse

Article

OpenSea’s this policy will not stop hackers but will only hurt users

Article

The Coming Crisis in the Decentralized Lending Market

Article

Tron, Cosmos, Fantom Price Analysis: 16 January

Article

Decentraland, SAND, Axie Infinity price Analysis: 16 January

Article

Crypto scam sites continue to draw Indians in droves

The best experience is on the app

Download app to discover exclusive content, live market updates and more.

Get smarter and richer with the Aliens Crypto Digest

Stay informed and entertained, for free.

Follow Aliens

Advertise