While the value of the digital currency continues to fall, the country that adopted it as legal tender last year is experiencing a surge in gang violence.
Gang violence in the country led to the largest single-day murder spike since 1992 when the country was in a civil war, which caused the president to miss a big conference in Miami last month.
As the chaos ensues, the town is threatening to jail journalists for publishing statements from gangs.
Despite a surge in the value of thecryptocurrencies, the country's audacious gamble has failed to bring about positive change for the people.
We can't say for certain if the rise in violence in the country was caused by the increase in the price of Bitcoins, but it certainly hasn't helped the region.
As the country descends into more political and social unrest, critics are pointing out how antithetical the leadership style is to the flashy Bitcoin dreams he promised last summer, around the time he first announced plans to adopt Bitcoin as legal tender in the country.
The opposition politician who is a potential presidential challenger to the current president of El Salvador said that the Bitcoin experiment is part of an authoritarian project.
The former mayor of La Union, the city that has a volcano, put it very succinctly.
Milla was near the base of the Conchagua volcano.
It seems like he's right now.
Salvadorans struggle to adapt toCryptocurrencies.
An Entire Country has switched toCryptocurrencies and the Economy is Floundering.
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