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said Moody’s analyst Jaime Reusche. He added that the government’s current Bitcoin holdings Moody's says bitcoin trading increases the risk profile in El Salvador Trading Bitcoin is only worsening El Salvador’s already weak sovereign credit outlook have added to El Salvador’s risk of defaulting. Last July which at current prices amounts to just under $60 million. This amount clearly does not pose a major risk to the government’s financial stability the government has published no official data on its holdings. In anticipation of El Salvador becoming the first country to accept Bitcoin as legal tender in September Moody’s downgraded El Salvador to Caa1 buying the dip during successive drops in the price over the second half of last year. Moody’s estimates that El Salvador’s Bitcoin holdings could be down between roughly $10-20 million at current market prices. One particular reason for the concern is an $800 million bond El Salvador issued that will mature in January of next year. Because it is currently trading at 0.78 on the dollar he introduced bills into the country’s legislature that would provide a legal framework for the issuance of a $1 billion 10-year denominated bond with a coupon of 6.5% Issued via Blockstream’s Bitcoin settlement system known as the Liquid Network