One year ago today, El Salvador became the first country to adopt bitcoin legal tender, or an official currency, alongside the US dollar. Promising change the country’s economy, foreign investment and a cryptocurrency heaven. President Bukele expected Salvadorans to us the it to for everyday purchases from paying the bus fare to buying pupusas as well as save hundredths of thousands of dollars on remittances fees to the almost four million Salvadorans who live abroad and send money back home. At worst, the national experiment is a total failure, El Salvadoran government has made a loss of 54.6%, since the total cost of purchasing the bitcoin above was around $106.3 million, while it’s now worth only $48.2 million. The Chivo Wallet app was total failure and those people who downloaded it only to withdraw the $30 the government was giving out, very low percentage of people used for day to day payments. Now the country is in a financial crisis, the first ever Bitcoin bond—also known as the Volcano token, never happened and Bitcoin City is just a mock-up. * * #EverydayElSalvador #LatinAmerica #CentralAmerica #NorthernTriangle #CryptoCurrency #BitcoinLegalTender #photojournalism #Bukele #Nayib #Democracy #hanslucas #DeBeeldunie #JuanCarlos #2022copyright * * * © Juan Carlos - All Rights Reserved / Todos los Derechos Reservados * * * Represented by Hans Lucas @studiohanslucas/@hl_latinamerica (France) and @beelduine De Beeldunie (Netherlands) (at El Salvador) https://www.instagram.com/p/CiNZiusuGNk/?igshid=NGJjMDIxMWI=