El Salvador's dollar debt dives on Bitcoin bond plans
Investors have grown weary of El Salvador’s dollar debts as the country further adopts Bitcoin, meanwhile the IMF has recommended that BTC not be used as legal tender. El Salvador’s dollar-denominated bonds have fallen to an all-time low as the Central American nation’s debt started trading in "distressed territory" this week. El Salvador’s USD bonds fell to 64.4 cents to the dollar on Monday, Nov. 22, following the weekend news that the Central American country would use Bitcoin (BTC) bonds to fund its Bitcoin City initiative. Dollar bonds have fallen steadily since April 2021 when they....
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El Salvador’s finance minister, Alejandro Zelaya, stated on Friday that the Central American country is looking for the ideal time to introduce a bitcoin-backed bond, which might happen between March 15 and 20, depending on the outcome of the Ukraine conflict. El Salvador Bitcoin Bond To Fund Bitcoin City President Nayib Bukele plans to issue […]
The El Salvador and Blockstream partnership to issue cheap, U.S. dollar-denominated debt to directly buy bitcoin is a new version of speculative attack.
The Bitcoin bond was announced in November last year and was initially expected to launch in the first quarter of 2022. El Salvador, the Central American nation that adopted Bitcoin (BTC) as a legal tender in September last year, has delayed the launch of its billion-dollar Bitcoin bond again.The Bitcoin bond, also known as the "Volcanic bond" or Volcanic token, was first announced in November 2021 as a way to issue tokenized bonds and raise $1 billion in return from investors. The fundraiser will then be used to build a "Bitcoin City" and buy more BTC. The bond was set to be issued in the....
Bitcoin Magazine got an exclusive interview with Blockstream's Samson Mow to discuss El Salvador's new Volcano Bitcoin Bond.
President Nayib Bukele, of El Salvador, announced yesterday he would issue a $1 billion “Bitcoin Bond” to build the first Bitcoin City in the world. The city would feature no taxes of any kind except VAT, and it would be carbon neutral, with most of the energy powering it coming from geothermal sources. Bukele also announced that El Salvador would partner with Blockstream and use its liquid network to issue the aforementioned bond.
Bitcoin City Announced in El Salvador
El Salvador and its president, Nayib Bukele, have taken the next step that will integrate bitcoin....