El Salvador postpones bitcoin bond issue, expects better conditions – Reuters.com
- Date: 23-Mar-2022
- Source: Reuters
- Sector:Financial Markets
- Country:Middle East
El Salvador postpones bitcoin bond issue, expects better conditions – Reuters.com
SAN SALVADOR, March 22 (Reuters) - El Salvador postponed an unprecedented issue of a bitcoin-backed bond planned for last week, as the government decided to wait for favorable conditions in the financial market, Finance Minister Alejandro Zelaya said on Tuesday.
The Central American government had scheduled the launch of the $1 billion bond between 15-20 March, but the war between Russia and Ukraine and volatility of the cryptocurrency prompted authorities to change the date. read more
The launch could be postponed until September as bitcoin has swooned since hitting a record high above $67,500 in early November. It lost almost half its value by Jan. 22, and traded at $42,609 on Tuesday, according to Refinitiv Eikon data.
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