Launch of the Bitcoin or Volcano bonds of El Salvador will not be soon, as acknowledged by the Minister of Finance.
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El Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. bonus (or bons Volcano) for USD $1 billion that the government of El Salvador was going to issue in the first quarter of this year will remain on hold, said this week the Finance Minister of the Central American country, Alejandro Zelaya. The funds from this bond were intended to be used to finance the construction of Bitcoin City, una ciudad que tendría un impuesto sobre la renta del 0% y sería neutra en carbono debido a la energía geotérmica que alimentaría su operaciones.
“We are waiting for the right time and the president says when…it depends on how the market an area or arena, online or offline, in which commercial dealings are conducted. is.” he said in the television interview on the program Face to Face .
According to Zelaya, the delay in the issuance is because “stock market conditions have not been appropriate”. .
He also accuses the war in Russia and Ukraine, the price of oil, inflation, the increase in benchmark benchmarking is a method of comparing the performance of your asset or investment portfolio to that of similar assets to see whether there is a gap that can be bridged by increasing performance indicators. rates of the U.S. Federal Reserve, among other international problems have closed the opportunity to go to alternative markets. However, he stresses that it is temporary, it is “for the time being.”
The price of Bitcoin
Zelaya also said in the interview that he had also “disincentivized” the issue the fall in the price of Bitcoin (priced at this hour at USD $38,948, but seems unwilling to leave the band between USD $35,000 and 45,000, as can be seen at Cryptomarkets ). This happens despite the fact that a month ago, he himself had assured that there was an overdemand for the bond that was around USD $500 million, recalls the media. The Economist.
It is worth remembering that it was this same Minister who had to ratify at the end of March that the bond was postponed . And it has been more than a month since then and there is no new news about it.
On the subject, economist Tatiana Marroquín said to El Economista: “Because of the contradictions that are occurring, there is no closed business in the bond issue. And technically the price argument is not valid, if the price is low right now, people are hopeful that it will go up, taking out a bitcoin bond that is worth 30 right now and that will be worth 60 at some point, would be the biggest incentive for investors.
Sources: Program Face to Face , The Economist , Bitcoin.com , archivo
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