Country of bitcoin, El Salvador snubs financial agency Moody’s

Four months after the recognition of the cryptocurrency, the country and its president chain the escapades.

Tweets, false information, cryptocurrencies and an “anti-system” president. The episode mixes ingredients of our time. On Monday, the president of El Salvador, this small Central American country, the only one to date to have recognized bitcoin as legal tender, harshly attacked the financial rating agency Moody’s on Twitter.

Nayib Bukele reacted to the degradation of El Salvador by the financial agency Moody’s. The young head of state, using an English acronym that makes Emmanuel Macron’s “annoyance” sound like kindness, tweeted that he didn’t care. By the way, Moody’s has not recently downgraded El Salvador; a financial news site claimed it in error.

Promote financial inclusion

On the other hand, a Moody’s analyst told Bloomberg last week that the Salvadoran state’s purchase of a bitcoin reserve was weakening its financial situation. The financial agency had certainly downgraded El Salvador, but in July, giving it the rating…

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