The authorities of El Salvador planned to issue bonds in bitcoins in the amount of $ 1 billion in March, however, due to the situation in Ukraine, the issue of securities may be postponed.
The funds received from the sale of bonds in bitcoins were planned to be directed to the construction of the “Bitcoin City”. However, due to the geopolitical situation, the authorities are still considering the feasibility of issuing securities right now, because the volatility of the financial and cryptocurrency markets has increased significantly due to the special operation in Ukraine.
“We think that the period from March 15 to March 20 would be a great time to issue bonds, especially since all the instruments are almost ready. But the international context… I didn’t expect the events in Ukraine. We are still preparing some details, but almost everything is ready, now it is only a matter of the right moment,” said Finance Minister Alejandro Zelaya of El Salvador.
Earlier it was reported that it is planned to issue bonds for $1 billion, however, in case of significant demand for these securities, the authorities may conduct an additional issue for $500 million.
Source: Bits
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