, has had liquidity issues in the past, making trading bitcoin"quite risky," Moody's analyst Jaime Reusche told Bloomberg in an interview.
El Salvador has about 1,391 bitcoins in its coffers, according to a Bloomberg analysis, and"if it gets much higher, then that represents an even greater risk to repayment capacity and the fiscal profile of the issuer," Reusche said. Moody's did not immediately respond to Insider's request for comment.Moody's downgraded
the country's credit rating to CAA1, meaning it has a very high risk of default on its loans. The ratings agency cited a"challenging redemption schedule" and"a deterioration in the quality of policymaking," as part of its reasoning for the downgrade.
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