The Finance Minister of El Salvador confirmed the debut of Bitcoin Bond within the next week.
El Salvador is the first and single country in the world, which adopted Bitcoin as a currency. Now the country is moving toward new initiatives to use Bitcoin to allow the citizens to make huge profits with the investment in Bitcoin-backed bonds. In particular, El Salvador is planning to launch its “Bitcoin bond”, to make citizens wealthy with their investment in Bitcoin directly and also to collect funding for the country to set up Bitcoin mining plants.
On 11 March, Alejandro Zelaya, finance minister of El Salvador, Speaking on the Salvadoran TV show “Frente a Frente”, said that the Bitcoin bond of El Salvador will debut in the country, to allow the citizens to buy it, between March 15 and March 20.
“We are still finishing some details, it’s almost all ready. It’s a matter of timing also. It’s not so simple… This is a question of timing watching the market, we believe between March 15-20 the timing is adequate.”
The Finance minister also noted that currently the financial market and geopolitical situation are not fair for Bitcoin bond launch plans, so it is very hard to find out a perfect time to Launch Bitcoin Bitcoin.
Minister also quoted the Russia vs Ukraine war and said that no one expected it for this time and this is why time is not simple, as we think.
“There are many things from the international context we must keep watching and the omission is one of those aspects.”
Earlier this, on 7 March, Nayib Bukele, President of El Salvador, responded to a question on the reforms of Bitcoin Bond of El Salvador and confirmed that 10 reforms will come in the next week (this week).
It will be interesting to see how much increment in the value of Bitcoin bond will take place because here things will not work in favour/against of bond but also many pump and dump will take place for this initiative of El Salvador with the price of Bitcoin.
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