Why El Salvador's Bukele Is Doubling Down on Bitcoin

Why El Salvador's Bukele Is Doubling Down on Bitcoin

The cryptocurrency crisis, worsened by the dramatic collapse of fast-growing crypto exchange FTX in mid-November, has raised questions about the future of these digital currencies. Bitcoin, the largest and most well known among them, has fallen to a two-year low in recent days. But one of the cryptocurrency’s most prominent backers is doubling down. On Nov. 17, El Salvador’s President Nayib Bukele, who last year made his country the first in the world to adopt Bitcoin as legal tender, responded …