{"id":121049,"date":"2021-09-08T06:44:03","date_gmt":"2021-09-08T06:44:03","guid":{"rendered":"https:\/\/fin2me.com\/?p=121049"},"modified":"2021-09-08T06:44:03","modified_gmt":"2021-09-08T06:44:03","slug":"bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/","title":{"rendered":"Bitcoin bruised after chaotic debut as legal tender in El Salvador"},"content":{"rendered":"

TOKYO (Reuters) – Bitcoin licked its wounds on Wednesday, a day after its heaviest losses in 2-1\/2 months as El Salvador\u2019s historic adoption of the crypto asset as legal tender caused chaos online and on the street.<\/p>

FILE PHOTO: A sign reads: “Exclusive Bitcoin register” in a Starbucks store where the cryptocurrency is accepted as a payment method, in San Salvador, El Salvador September 7, 2021. REUTERS\/Jose Cabezas<\/figcaption>

The coin last traded at $46,560, having endured wild trade the day before in which it hit a near four-month high of $52,956 before plunging 11.1%, its largest fall since June 2.<\/p>\n

Analysts said the sharp retreat was partly due to investors who had bought the rumour of El Salvador\u2019s move now selling the fact.<\/p>\n

\u201cI think there was some anticipation building ahead of that event (El Salvador), similar to what we saw ahead of Coinbase listing on Nasdaq,\u201d said Henrik Andersson, chief investment officer at Apollo Capital, a crypto asset fund in Melbourne, Australia.<\/p>\n

At one point on Tuesday, the digital currency fell as much as 18.6%, wiping out more than $180 billion from the market.<\/p>\n

It was a historical day for bitcoin as El Salvador\u2019s experiment of making it legal tender got off to a bumpy start.<\/p>\n

Technological glitches hampered its use while street protests by mistrustful citizens broke out in the Central American country.<\/p>\n

As bitcoin wobbled, Salvadoran President Nayib Bukele said his government purchased an additional 150 bitcoins on Tuesday, worth around $7 million.<\/p>\n

\u201cThat has underscored the difficulty in trying to protect the value of bitcoin as its own currency,\u201d said Nana Otsuki, chief economist at Monex Securities. \u201cThe buying didn\u2019t seem to be effective in halting its fall.\u201d<\/p>\n

Amid the trading frenzy, major U.S. cryptocurrency exchanges Coinbase Global Inc, Kraken and Gemini struggled with delays in some transactions. All of them said their systems have since been restored.<\/p>\n

Separately, the U.S. securities regulator has threatened to sue Coinbase Global if the crypto exchange proceeds with plans to launch a programme allowing users to earn interest by lending crypto assets.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

TOKYO (Reuters) – Bitcoin licked its wounds on Wednesday, a day after its heaviest losses in 2-1\/2 months as El Salvador\u2019s historic adoption of the […]<\/p>\n","protected":false},"author":3,"featured_media":121048,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nBitcoin bruised after chaotic debut as legal tender in El Salvador - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin bruised after chaotic debut as legal tender in El Salvador - Fin2me\" \/>\n<meta property=\"og:description\" content=\"TOKYO (Reuters) – Bitcoin licked its wounds on Wednesday, a day after its heaviest losses in 2-1\/2 months as El Salvador\u2019s historic adoption of the [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-08T06:44:03+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/09\/Bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-El-Salvador.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/\",\"url\":\"https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/\",\"name\":\"Bitcoin bruised after chaotic debut as legal tender in El Salvador - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-09-08T06:44:03+00:00\",\"dateModified\":\"2021-09-08T06:44:03+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Markets\",\"item\":\"https:\/\/fin2me.com\/category\/markets\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Bitcoin bruised after chaotic debut as legal tender in El Salvador\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fin2me.com\/#website\",\"url\":\"https:\/\/fin2me.com\/\",\"name\":\"Fin2me\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fin2me.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"Mark\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"caption\":\"Mark\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin bruised after chaotic debut as legal tender in El Salvador - Fin2me","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin bruised after chaotic debut as legal tender in El Salvador - Fin2me","og_description":"TOKYO (Reuters) – Bitcoin licked its wounds on Wednesday, a day after its heaviest losses in 2-1\/2 months as El Salvador\u2019s historic adoption of the [...]","og_url":"https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/","og_site_name":"Fin2me","article_published_time":"2021-09-08T06:44:03+00:00","author":"Mark","twitter_card":"summary_large_image","twitter_image":"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/09\/Bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-El-Salvador.jpg","twitter_misc":{"Written by":"Mark","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/","url":"https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/","name":"Bitcoin bruised after chaotic debut as legal tender in El Salvador - Fin2me","isPartOf":{"@id":"https:\/\/fin2me.com\/#website"},"datePublished":"2021-09-08T06:44:03+00:00","dateModified":"2021-09-08T06:44:03+00:00","author":{"@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fin2me.com\/markets\/bitcoin-bruised-after-chaotic-debut-as-legal-tender-in-el-salvador\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fin2me.com\/"},{"@type":"ListItem","position":2,"name":"Markets","item":"https:\/\/fin2me.com\/category\/markets\/"},{"@type":"ListItem","position":3,"name":"Bitcoin bruised after chaotic debut as legal tender in El Salvador"}]},{"@type":"WebSite","@id":"https:\/\/fin2me.com\/#website","url":"https:\/\/fin2me.com\/","name":"Fin2me","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fin2me.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"Mark","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fin2me.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","caption":"Mark"}}]}},"_links":{"self":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/121049"}],"collection":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/comments?post=121049"}],"version-history":[{"count":0,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/121049\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media\/121048"}],"wp:attachment":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media?parent=121049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/categories?post=121049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/tags?post=121049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}