El Salvador economy in trouble

There is such a country as El Salvador (GDP - about $ 25 billion or $ 3.3 thousand per capita). There is a completely frostbitten president-populist-adventurer Bukele (thank God, not a dictator) there. And this same Bukele decided to make the whole country play in the casino.Since Tuesday, bitcoin has been there as an official means of payment. Citizens download the application to their smartphones, where they are credited with $ 30. And they can buy bitcoins. This is exactly what Bukele called for today, when Bitcoin collapsed from $ 53K to $ 43K (it is not clear why it collapsed; many believe that it was precisely because of El Salvador, where those problems occurred with the launch of the application).

Sorry for the Salvadorans. But economists get another case of what disasters populism can lead to (but this is understandable), and, most importantly, what consequences the introduction of bitcoin as an official means of payment can have. It cannot be ruled out that it is the inevitable fiasco of El Salvador that will become the starting point in the funeral of one of the most harmful inventions of mankind. It is always better to learn from the mistakes of others ..