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Author: Admin | 2025-04-28
Exposure to Bitcoin without having to own the cryptocurrency themselves. It will also be a chance for investors to assist El Salvador in accelerating its development. On Nov. 23, Mow, who has been collaborating with the government of El Salvador on the development of the Bitcoin bond, told Bloomberg TV that“We’re attempting to organize this in such a manner that [the Bitcoin bond] can be presented to boards of directors as a regular bond because it is a regular bond.” It just so happens to be backed by a significant amount of Bitcoin.”Podcaster and famous Bitcoin enthusiast Anthony Pompliano anticipated that they would be “ridiculously overcrowded” in reaction to Mow’s interview with Bloomberg.PREDICTION: The bitcoin bond issued by El Salvador will be insanely oversubscribed pic.twitter.com/2Kj0urm0SNNovember 23, 2021 — Pomp (@APompliano)For most of 2021, El Salvador has been in negotiations with the International Monetary Fund (IMF) over a potential $1.3 billion loan. President Bukele has opted to support more local efforts, such as school construction, using Bitcoin rather than USD, thus such discussions may fade into oblivion. El Salvador plans to create 20 “Bitcoin Schools” using funds from the Bitcoin Trust.On November 22, the IMF published a final statement on El Salvador’s financing request. Although El Salvador’s economy has recovered swiftly from the epidemic, the country’s budgetary deficits and huge public debt are causing larger gaps in the services it can deliver, according to the report. “But dangers resulting from Bitcoin as a legal money, the new payments environment, and trading in Bitcoin should be addressed,” the paper said, adding that initiatives to increase financial inclusion and growth are welcome.“Bitcoin should not be utilized as legal money because of these hazards.” The staff advises that the Bitcoin law’s scope be narrowed, and that the new payment ecosystem’s regulation and supervision be strengthened.”The “el salvador president” is a cryptocurrency that was created by the government of El Salvador. The currency has been in circulation since April 2018.Related Tagsel salvador bonds priceel salvador currencyel salvador bitcoin legal tenderel salvador bitcoin dateel salvador bitcoin risks Continue Reading
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