El Salvador postpones Bitcoin bonds to September: Report
Apart from delaying the issuance of Bitcoin bonds, the Salvadoran government has apparently slowed down the pace of buying new BTC as well. The government of El Salvador has reportedly decided to postpone the issue of a Bitcoin (BTC)-backed bond due to the unfavorable market conditions fueled by the geopolitical crisis.El Salvador’s “Volcano Bond” will not go live in March as the Salvadoran government expected previously, finance minister Alejandro Zelaya said in an interview with a local TV channel.Zelaya claimed that the delay was due to the volatile prices of BTC fueled by the....
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El Salvador has been planning to release the world’s first Bitcoin bond for a while. This move had garnered a lot of interest from investors in the space who have been looking forward to taking advantage of this unique opportunity. However, the launch of the bitcoin bond has now been postponed for a second time. El Salvador’s finance miner, Alejandro Zelaya, gives the reason for the multiple delays. Not A Good Time The finance minister had put forward that it was not a good time for the launch of the El Salvador Bitcoin Bonds. This is due to the fact that the price of bitcoin had been in a....
The banking giant estimated that El Salvador wouldn’t face any issues with its debt payment for another year, despite the crisis it's facing currently. The Bitcoin (BTC) bet has somewhat backfired for the small nation as the top cryptocurrency trade at a 70% discount from its top. At a time when the Latin American nation is struggling with its debt, Morgan Stanley has given a buy call for the battered Eurobonds.Simon Waever, the global head of emerging-market sovereign credit strategy at Morgan Stanley, told investors in a Tuesday note that El Salvador’s bonds are overly punished by the....
El Salvador is preparing to introduce 20 bills to provide a legal framework for its upcoming bitcoin bonds. The funds raised will be used to build infrastructure for Bitcoin City and buy more bitcoin, the Salvadoran government explained. El Salvador Drafting Legal Framework for Bitcoin Bonds El Salvador’s finance minister, Alejandro Zelaya, said in an interview on local television Tuesday that his government will send about 20 bills to Congress concerning the country’s bitcoin bonds. The bills will cover financial markets and investment in securities to provide a legal....
El Salvador seems to be looking to a future fully integrated with bitcoin. The country which had made history in September as the first sovereign nation to make bitcoin a legal tender has taken another step forward in its adoption of the cryptocurrency. After investing millions of dollars into BTC, El Salvador has announced the […]
Time to check back with El Salvador. During Bitcoin Week, it was so hectic down there that we didn’t know where to start. Everybody in the Bitcoin space visited San Salvador and El Zonte. The highlight was that President Bukele announced the project to build Bitcoin City and to issue $1B Bitcoin bonds to finance […]