Usually Bitcoin price doesn't really rise when you want and as much as you'd like (although now, fueled by ETF, the rules may change).
However, buying Bitcoin costs money, so the country may have to get into more debt and also the money will be locked in bitcoins, not fueling the economy.
But from what I know, El Salvador has pretty much done the same: bought bitcoins, although their economy looks bad. And obviously, IMF was far from happy.
This for us, bitcoiners, may look like a fun fact, but if the country needs more money afterwards, the standard banks borrowing more will not give that.
So it may be more than tricky to solve this just by buying some bitcoins. Plus it depends on luck and also how fast they'd move. Because buying near ATH is another problem.
Topic: Can Bitcoin save a nation that owes a lot of money / Debt - page 3. (Read 539 times)
I was studying a recent financial magazine where there was an article start that Pakistan has taken a lot of debt from other countries and it is almost difficult to pay it back in time.
Although the article did not mention any crypto solution but only focused on having more industries on small and large scales to improve exports and increase the foreign reserves.
Considering this condition of any country, can Bitcoin help in this to recover from this crisis by probably adding BitcoinBTC in national reserves and not only focusing on US Dollars
Although the article did not mention any crypto solution but only focused on having more industries on small and large scales to improve exports and increase the foreign reserves.
Considering this condition of any country, can Bitcoin help in this to recover from this crisis by probably adding BitcoinBTC in national reserves and not only focusing on US Dollars
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