Coinscreed
  • Home
  • News
    • NFT News
    • Metaverse News
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • DeFi News
    • Blockchain News
    • Web3 News
    • Press Release
    • Hacks and Scams
    • Sponsored Post
  • Stories
    • Interviews
    • Secret Lives
    • My Life in Crypto
  • Market Analysis
  • Learn
    • Bitcoin
    • Ethereum
    • Cryptocurrency Exchange
    • NFTs
    • DeFi
    • Web3
    • Metaverse
    • Blockchain
    • Trading
    • Crypto Guide
  • Quizzes
Advertise
No Result
View All Result
  • bitcoinBitcoin(BTC)
    $0.003.62% 24H
    BITCOIN
    24H : 3.62%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.003.33% 24H
    ETHEREUM
    24H : 3.33%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.002.17% 24H
    BNB
    24H : 2.17%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.001.91% 24H
    XRP
    24H : 1.91%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.002.86% 24H
    CARDANO
    24H : 2.86%
    Volume : $0.00
    Marketcap : $0.00
  • terra-lunaTerra Luna Classic(LUNC)
    $0.000.770% 24H
    TERRA LUNA CLASSIC
    24H : 0.770%
    Volume : $0.00
    Marketcap : $0.00
Coinscreed
  • Home
  • News
    • NFT News
    • Metaverse News
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • DeFi News
    • Blockchain News
    • Web3 News
    • Press Release
    • Hacks and Scams
    • Sponsored Post
  • Stories
    • Interviews
    • Secret Lives
    • My Life in Crypto
  • Market Analysis
  • Learn
    • Bitcoin
    • Ethereum
    • Cryptocurrency Exchange
    • NFTs
    • DeFi
    • Web3
    • Metaverse
    • Blockchain
    • Trading
    • Crypto Guide
  • Quizzes
Advertise
No Result
View All Result
Coinscreed
No Result
View All Result
Home News Bitcoin News

Bukele government unveiled a bill to launch the ‘Bitcoin bonds’

Mercy Adeola by Mercy Adeola
6 months ago
in Bitcoin News
Reading Time: 3 mins read
A A
Share on FacebookShare on Twitter
A new bill confirms the government’s plan to raise $1 billion and invest them into the construction of a “Bitcoin city.”
Bukele government unveiled a bill to launch the ‘Bitcoin bonds’
Bukele government unveiled a bill to launch the ‘Bitcoin bonds’

El Salvador finally took a significant step toward the implementation of its grandiose “Bitcoin bonds” concept during the recent decline in the cryptocurrency market.

A law was submitted by the Minister of the Economy, Maria Luisa Hayem Brevé, reaffirming the government’s intention to generate $1 billion and use it to build a “Bitcoin city.”

SuggestedArticles

Deaton Slams Bitcoin Maxis for Backing Gensler

Deaton Slams Bitcoin Maxis for Backing Gensler

3 days ago
Bill for Officials to Disclose Bitcoin Holdings Gets Approval in Korea

Bill for Officials to Disclose Bitcoin Holdings Gets Approval in Korea

4 days ago

A 33-page measure on digital securities, issued November 17, calls on legislators to provide a legislative framework for utilising digital assets in El Salvador’s public issuances.

The obligations of issuers and asset providers should also be taken into account, along with all other regulations for this process. The administration of Nayib Bukele first issued “volcano bonds” or “Bitcoin bonds” in 2021.

A “Bitcoin city” was to be built at the foot of the Colchagua volcano according to the initial plan, which called for issuing about $1 billion worth of those bonds.

According to legend, the city would be the ideal location for cryptocurrency mining thanks to the volcano’s hydrothermal energy. Still, half of the monies generated would be put into Bitcoin BTC ($16,443) directly.

The project has experienced multiple delays over the past 12 months. At one point, its launch phase was slated to begin in March, but it was later moved to September and then again for “security reasons.”

Some reports claim that the legislation might be approved by lawmakers before Christmas. Regarding that period, Paolo Ardoino, the chief technology officer of the bitcoin exchange Bitfinex, which is working on the bonds initiative with the government of El Salvador, sounds upbeat:

Digital securities law will enable El Salvador to be the financial center of central and south America.
🇸🇻 https://t.co/1QBcrjxQCC

— Paolo Ardoino 🍐 (@paoloardoino) November 23, 2022

On September 7, 2021, El Salvador declared BTC to be legal tender and subsequently accumulated approximately 2,301 BTC worth roughly $103.9 million. The investment’s return was even put toward the construction of hospitals and schools during the bull market. However, 77.1% of Salvadorans want the government to cease “spending public money on Bitcoin” while the nation’s economy continues to deteriorate.

Tags: bitcoinEl Salvador

Oh hi there 👋
It’s nice to meet you.

Sign up to receive a weekly round-up of the latest happenings in the crypto space!

We don’t spam! Read our privacy policy for more info.

Please check your inbox or spam folder to confirm your subscription.

Coinscreed

Copyright © 2022 Coinscreed

Navigate Site

  • About
  • Advertise
  • Contact Us
  • Partners
  • Privacy & Policy
  • Crypto Price Charts

Follow Us

No Result
View All Result
  • Home
  • News
  • Stories
    • Interviews
    • My Life in Crypto
    • Secret Lives
  • Market Analysis
  • Learn
    • Bitcoin
    • Blockchain
    • Crypto Guide
    • Cryptocurrency Exchange
    • DeFi
    • Ethereum
    • Metaverse
    • NFTs
    • Trading
    • Web3
  • Contact Us

Copyright © 2022 Coinscreed

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.