The El Salvador government has incurred huge losses in light of the decline in cryptocurrencies, as losses in the recent period were not limited to individuals only, but also exceeded it to reach governments.

According to Arabiya Net, the government in El Salvador, which has always defended Bitcoin until it became the first country to adopt it as an official currency, is suffering from the decline in the price of the cryptocurrency.

Reuters estimated El Salvador's losses from investing in Bitcoin at $36 million, enough to pay off its debt, which amounted to more than $24 billion at the end of last year, compared to 19 billion by the end of 2019.