From FWIW's Latin America correspondent, reporting from New Mexico

El Salvador’s President may be a bad gambler, but he does have a sense of humor

El Presidente, Nayib Bukele

After gambling big with his nation’s currency and losing, the president has changed his Twitter picture to one of him in a McDonald’s uniform.

Under Bukele’s direction, El Salvador has been buying bitcoin, and uniquely has adopted it as legal tender. Coindesk reports the country now holds over 1,500 bitcoin, worth some $53 million in fiat Yankee dollars.

Bitcoin  BTCUSD, 1.75% again started to slide early Monday after a turbulent weekend, falling below $34,000. The cryptocurrency is down over 50% from its record high.

Financial markets have not been impressed. Since El Salvador adopted bitcoin as legal tender, its 5-year credit default swaps have surged to 1,812.81 , from 412.54, according to S&P Global Market Intelligence.

Were I a citizen of El Salvador I’m not sure I’d find this devaluation of the currency by half to be as amusing as Mr. Bukele does, but I may soon find out.