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Bitcoin Nurses Losses After El Salvador’s Glitched Rollout

  • El Salvador president says nation bought the dip to add coins
  • Bitcoin selloff came after almost 75% rally since late July
Bloomberg business news
WATCH: Mike Novogratz discusses the outlook for cryptocurrencies as El Salvador becomes the first country in the world to adopt Bitcoin as legal tender. Source: Bloomberg
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Bitcoin nursed losses Wednesday after plunging amid El Salvador’s troubled rollout of the largest cryptocurrency as legal tender.

The virtual coin was trading near $46,260 as of 12:32 p.m. in New York, having slid as much as 17% a day earlier before paring some of the losses. The downdraft also swept across tokens such as Ether and Dogecoin, as well as the Bloomberg Galaxy Crypto Index.