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El Salvador’s president uses McDonald’s uniform for Twitter profile after bitcoin plunge
El Salvador President Nayib Bukele changed his Twitter profile to that of a McDonald’s employee after bitcoin’s latest plunge that brought the cryptocurrency down as much as 50 percent from its highs.
Bukele’s new Twitter profile has a reference to an internet meme indicating future career prospects as McDonald’s employees and getting as low as $11 per hour when bitcoin slumps.
Bitcoin slid early Monday to fall below $34,000 and more than 50 percent down from its record high.
El Salvador has been buying bitcoin and has adopted it as legal tender under Bukele.
According to Coindesk, El Salvador now holds over 1,500 bitcoin, worth around US$53 million.
However, since El Salvador adopted bitcoin as legal tender, its 5-year credit default swaps have soared from 412.54 to 1,812.81, according to S&P Global Market Intelligence.