Nayib Bukele unexpectedly announced that El Salvador would be adopting Bitcoin as legal tender, and the policy went into effect on September 7, 2021. With the benefit of hindsight, we can see that the decision came near the very top of the Bitcoin prices. Those who put money into Bitcoin at Bukele’s urging have lost quite a lot of money.So has El Salvador itself, assuming Bukele is telling the truth about his many claimed Bitcoin purchases. As of December 2022, Nayib Bukele has lost more than $67 million on those investments.