Question
During the 2021-22 cryptocurrency crash, a Minister of Finance from this country said that it had not lost any money, because it did not sell any of its bitcoins. For 10 points each:
[10m] Name this country which adopted Bitcoin as legal tender in June 2021, distributing $30 of Bitcoin to every citizen via Chivo, a digital wallet.
ANSWER: El Salvador
[10e] In May 2021, Bitcoin prices crashed after this person announced that Tesla would no longer be accepting Bitcoin. In October 2022, this person acquired Twitter for 44 billion dollars.
ANSWER: Elon Musk
[10h] This cryptocurrency, founded by Do Kwon, crashed when it broke its peg to the dollar in May 2022. The collapse of a mint-and-burn system between this “stablecoin” and an alphabetically-earlier companion currency led to Ether losing one third of its value.
ANSWER: Terra [or TerraUSD; do NOT accept or prompt on “Tether”] (The companion currency is Luna.)
Summary
| 2023 UMN COOT | 08/19/2023 | Y | 3 | 20.00 | 100% | 100% | 0% |
Data
| Palestrina Sawayama | BHSU | 10 | 10 | 0 | 20 |
| doubleplusnegfive | Our Job is Buzz | 10 | 10 | 0 | 20 |
| Jeff Weiner Fan Club | Weird Klaus Barbie | 10 | 10 | 0 | 20 |