A crypto enthusiast in the presidency said that numerous foreign media predicted the bankruptcy of El Salvador, but completely ignored the success of this small developing country.
Nayib Bukele tweeted to criticize “traditional foreign media” for failing to report on his country’s bond compliance.
“Last year, almost every international news outlet reported that because of our bitcoin bet, El Salvador would default on its debt by January 2023. But we just paid $800 million in full plus interest. However, of course, almost no one is covering this event,” wrote Bukele.
The redemption of El Salvador’s bond debt follows the approval of the sale of $1 billion worth of BTC-backed bonds. The funds raised will be used to replenish the country’s cryptocurrency reserves and the development of “Bitcoin City”.
In the middle of last year, the leadership of the Ministry of Finance of El Salvador stated that the fall of the cryptocurrency market does not threaten the financial stability of the state.
Source: Bits
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