El Salvador’s bet on bitcoin adds to investors’ political jitters

Financial Times

Following El Salvador’s adoption of bitcoin as legal tender, Accion’s Michael Schlein shared his skepticism that cryptocurrency can benefit financial inclusion:

“If I told you I’m now going to pay your salary in bitcoin, you’d have a lot of questions,” said Michael Schlein, chief executive of Accion, a non-profit that invests in tech for financial inclusion. “The notion of poor people keeping savings in crypto is absurd. It’s wildly volatile and you’re talking about the most vulnerable people in the world.”

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