El Salvadoran authorities: the risk of BTC crash is minimal

El Salvador’s Finance Minister Alejandro Zelaya dismissed concerns that the BTC crash would damage the country’s financial system. He added that all the statements about the high fiscal risk due to bitcoin make him smile.

«$ 40 million is not even 0.5% of our national budget,» Selaya added about the country’s losses.

Indeed, the $ 40 million lost during the BTC crash does not play a decisive role in El Salvador’s economy — the country’s national budget is $ 24.64 billion (as of 2020).