El Salvador’s Finance Minister: Bitcoin Bonds Not Coming Soon

El Salvador’s finance minister Alejandro Zelaya still does not think it is the right time to launch its highly-anticipated $1 billion bitcoin bond. On June 01, citing the market conditions following the Russia-Ukraine war, the finance minister commented during a national television news show. El Salvador Postpones the Launch of Bitcoin Bonds for the Second Time On June 01, Alejandro Zelaya, El Salvador’s Finance Minister, said in an interview on the local “Frente a Frente” (Face-to-Face) news program that it was not yet time to launch the bitcoin bonds because the price of Bitcoin (BTC) was still “troubled.” This is the second time El Salvador has postponed the launch date of the bonds, with the Finance Minister saying in an interview, “Still… it’s not the time”. However, unlike in his previous interviews, Zelaya did not mention any tentative issuance date this time. The plan for the Bitcoin bond was originally announced in November 2021 by El Salvador’s president Nayib Bukele. Half of the $1 billion expected is to fund the construction of “Bitcoin City”, built near a volcano with the idea of harnessing geothermal energy for Bitcoin miners. The other half of the funds raised would be invested into Bitcoin. The $1 billion bond was originally scheduled to launch in mid-March 2022. But ​in an interview in March, Zelaya delayed the launch, citing price volatility, giving a possible launch date around June with a timeline extending...