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.
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