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El Salvador’s bitcoin adoption has come in for criticism yet again, following news that the country added more tokens to its vault recently.
Bank of England Governor Andrew Bailey aired this opinion during the Cambridge University student union held last Thursday.
“It concerns me that a country would choose it [Bitcoin] as its national currency,” suggesting that citizens will suffer as a result of the wild crypto market volatility.
Furthermore, he said El Salvador’s bitcoin adoption “raises a number of macroeconomic, financial, and legal issues.”
Newsbsc reported yesterday that the Central American country bought 100 additional bitcoin tokens, meaning the country now hodls more than 1,000 bitcoins worth over $60 million.
This news has angered some enthusiasts and crypto analysts but the main actor in all these, President Nayib Bukele, remains undeterred.