The 63-year-old American economist known as "Dr. Doom" has called for the impeachment of El Salvador's President, Nayib Bukele, for a Bitcoin bet on his country's fate. Since predicting that Bitcoin will trade at $0 during the crypto winter of 2018, Nouriel has been a vocal opponent of the cryptocurrency.
"El Salvador's experiment with Bitcoin is an unmitigated disaster," said Nouriel Roubini in a statement. "Whoever held BTC lost 50%, and those who held BTC lost 50%, and those who held BTC lost 50%, and those who held BTC lost 50%, and those who held BTC lost 50%, and those who held BTC lost 50%, The nation spread is at an all-time high, and the government is on the verge of default. They should impeach that knucklehead @nayibbukele, a bankrupt president!"
El Salvador's credit rating was downgraded from B3 to caa1 in January, preventing it from receiving a $1.3 billion IMF lending line due to its interest in buying Bitcoin.
Analyst Jaime Reusche of the financial credit rating agency supports the financial credit rating establishment's position, saying in an interview with Bloomberg that the country's fiscal rating would continue to deteriorate, if Bukele continues his stance on investing in cryptocurrency. According to Jamie, "If it rises significantly, the issuer's repayment capabilities and fiscal profile would be jeopardized even further."
This comes after the country's $800 million in dollar-denominated bonds, which mature in January 2023, saw a 34 percent increase in yield due to Bitcoin's downward trend earlier this month. El Salvador's debt performance is now the worst in the world.
The opposition is baffled by Bukele's ambitions to develop a "Bitcoin City" using monies obtained from planned Bitcoin bonds, despite the fact that the country's Bitcoin investment has been reported to lose more than $20 million.
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards