El Salvador's Bitcoin Bond May Be Delayed

El Salvador's Bitcoin bond may be delayed. Minister of Finance Zelaya made a statement on the subject.

Bitcoin bonds, which El Salvador's Finance Minister Alejandro Zelaya previously announced will be issued between March 15-20, might be delayed. Zelaya, in a statement to the local media, stated that the process may take longer due to external factors. The minister said, "We cannot determine some market variables. The war between Russia and Ukraine was not something we could foresee. We must also take into account international conditions to issue the bonds at the right time." Zelaya said, "March 15-20 would be a good time to issue Bitcoin bonds." The Bitcoin bond was announced at the Bitcoin conference held in El Salvador by El Salvador President Nayib Bukele in November last year. Bukele said that they would invest in Bitcoin mining with half of the $1 billion revenue from the bond sale, and they would buy additional Bitcoin with the other half. Bukele also announced that they would establish a Bitcoin city. El Salvador, which made Bitcoin the official currency in September, has 1691 BTC in its treasury as of today. On the other hand, the country also mines Bitcoin using volcanic energy.