El Salvador Postpones Bitcoin Bond Issue Date

Due to the unfavorable situation in the global financial market, the authorities of El Salvador decided to postpone the issuance of Bitcoin bonds, Reuters reports.

According to Finance Minister Alejandro Celaya, El Salvador’s Bitcoin bonds will appear on the financial market between May and September 2022. He also added that after September it will be difficult to enter the international market.

The authorities of El Salvador announced their intention to issue Bitcoin bonds in early 2022. According to the plan, bonds worth $1 billion were to be issued on March 15-20, and, if successful, an additional issue of $500 million could be carried out.

Half of the profits from the sale of these bonds were to be directed to the development of mining infrastructure using geothermal volcanic energy. The other 50% is for the purchase of digital gold for the government trust.

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