El Salvador defers bitcoin bonds

Contrary to what was originally announced, El Salvador will no longer issue its famous bitcoin-backed government bonds this month.

"Now is not the time to issue the bond," Finance Minister Alejandro Zelaya explains in a TV interview.

What is meant is the volatile Bitcoin market environment. BTC has been moving sideways for months - that shouldn't exactly encourage investors' willingness to buy.

However, the delay should only be temporary. Zelaya expects to be able to issue the bond in April or May.

Originally it was planned to issue the “Volcano Bonds”, which have a volume of one billion USD, by the end of March. USD 500 million of this is to flow into infrastructure projects such as the construction of Bitcoin City . The Bukele government wants to use the other half to buy BTC and hold it for five years.

The proceeds of the speculation are to be distributed to investors as a kind of "Bitcoin dividend".

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