Skip to content
Subscriber Only

Biggest Test in Bitcoin’s 12-Year History Has a Rocky Start

  • Bitcoin crashed amid technical glitches in El Salvador rollout
  • Poll shows Salvadorans remain skeptical about the plan
Bloomberg business news
WATCH: El Salvador becomes the first country in the world to adopt bitcoin as legal tender.(Source: Bloomberg)
Updated on

El Salvador’s experiment using Bitcoin had a rocky start as its price crashed on its first day as legal tender, while the roll-out was hampered by technical glitches. 

The cryptocurrency plunged as much as 17% to its lowest level in a month amid news that the government disconnected its Bitcoin wallet early on Tuesday to fix problems.