Bitcoin and El Salvador

[Otasowie24]

Everything is going well for El Salvador at the moment. They have recorded massive gains from their Bitcoin holdings (over $360M). Seeing this, other countries will be looking to follow a similar path as El Salvador.

 

According to Coinspeaker (https://www.coinspeaker.com/bitget-receives-bitcoin-service-provider-bsp-license-central-bank-el-salvador/) and CryptoSlate (https://cryptoslate.com/el-salvador-grants-bitget-a-bitcoin-license-amid-362-million-profit-boom/), El Salvador has granted Bitget a Bitcoin Service Provider (BSP) license and this means the exchange will be able to provide Bitcoin-related services in the country and give its citizens more options, solidifying the exchange's reputation.

 

While this provides more options for the citizens of the country, I am curious to know how the country will treat the effects of the bear market.