Fitch lowers El Salvador’s rating due to Bitcoin adoption
El Salvador faces another whipping from a traditional finance firm for its “forbidden” love for Bitcoin (BTC). American credit rating agency Fitch Ratings lowered El Salvador’s long-term Issuer Default Rating (IDR) from B- to CCC, mentioning “policy unpredictability” and the “adoption of Bitcoin as legal tender” as some of the factors that led to the downgrade. […]