Cryptocurrencies
Crypto World Awaits El Salvador’s ‘Bite-Size’ Volcano Bitcoin Bonds
- Finance Ministry says issuance could be ‘in coming days’
- Meme crowd, retail investors most likely target for bond
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El Salvador’s President Nayib Bukele won praise from cryptocurrency enthusiasts across the globe last year when he promised to build a tax-free Bitcoin City on the country’s coast, complete with geothermal energy for mining digital coins from a nearby volcano.
To finance it, he told a crowd of onlookers, the government would raise $1 billion via the world’s first sovereign blockchain bond, with a minimum investment of just $100. Four months on, the crypto world is still awaiting their chance at the snack-size bonds that will help build the “Singapore of Latin America.”