More On: Bitcoin
How much 6 popular cryptocurrencies lost in 2022 ?
How people who watch the market were wrong about bitcoin in 2022
Twitter Is Too Musk to Fail
Why Jim Cramer suggests purchasing bitcoin or ethereum, with one exception
El Salvador's bitcoin experiment has cost $375 million so far and lost $60 million
The Salvadoran government has decided to postpone the sale of Bitcoin bonds due to adverse market circumstances.
During an interview with the TV show "Fronte a Frente," Finance Minister Alejandro Zelaya discussed it.
President Nayib Bukele was the first to announce plans to issue a $1 billion Bitcoin-backed bond in November 2021. The goal is to establish Bitcoin City and make cryptocurrency investments.
The launch must have taken place between March 15-20, according to the initial plans. Because of the start of the Russia-Ukraine conflict, this program was altered. Financial markets, including cryptocurrency, were impacted by the geopolitical situation.
Because there are some movements on the globe, Zelaya believes this is not the appropriate time for the bond issuing.
The debut date has yet to be determined. It's probable, according to Zelaya, that it will happen in May or June. He also stated that it is difficult to obtain financing beyond September unless you have been previously funded.
President Nayib Bukele was the first to announce plans to issue a $1 billion Bitcoin-backed bond in November 2021. The goal is to establish Bitcoin City and make cryptocurrency investments.
The launch must have taken place between March 15-20, according to the initial plans. Because of the start of the Russia-Ukraine conflict, this program was altered. Financial markets, including cryptocurrency, were impacted by the geopolitical situation.
Because there are some movements on the globe, Zelaya believes this is not the appropriate time for the bond issuing.
The debut date has yet to be determined. It's probable, according to Zelaya, that it will happen in May or June. He also stated that it is difficult to obtain financing beyond September unless you have been previously funded.
-----
Related Video:
** Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of USA GAG nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
