El Salvador plans to issue $1 billion bitcoin bonds

On January 4, El Salvador Finance Minister Alejandro Zelaya announced that the Central American country’s government will issue bitcoin bonds sometime between February and March, funding to build the first “Bitcoin City” in the world. world.

According to the Vietnam News Agency correspondent in Latin America, Minister Zelaya said that despite surveying investors about the possibility that the demand for this bond is only above 200 million USD, the Government of El Salvador is expected to issue bitcoin bonds. worth 1 billion USD.

Minister Zelaya assessed that the successful issuance of bitcoin bonds will open a new financial opportunity besides continuing to issue bonds in the traditional market.

In September 2021, El Salvador became the first country in the world to recognize bitcoin as legal currency in transactions, after the National Assembly passed the Bitcoin Law on June 9, 2021. .

Under this law, bitcoin is lawfully used, without limitation, in any transaction and for any title required by a public or private natural or legal entity.

In addition, the law stipulates that the exchange between bitcoin and USD will be established “free by the market” and will not be subject to capital gains tax like other legal currencies.

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