El Salvador is about to issue its billion-dollar bitcoin bond though the timing is tricky — 'I didn't expect the war in Ukraine'
El Salvadorstill plans to offer its $1 billion bitcoin bondsometime this week.
- But the country's finance minister said the precise timing is an issue as he didn't expect the
El Salvador, the Central American country that adopted
"We believe that between March 15 and 20 is the right timing, we have the tools almost finished. But the international context will tell us ... I didn't expect the war in Ukraine," El Salvador Finance Minister Alejandro Zelaya told a local TV station on Friday, according to Reuters.
Just two weeks after El Salvador announced the window for its bitcoin bond, Russia launched a full-scale attack on Ukraine, which has sparked international outrage. The West has responded with sanctions that have led bond
El Salvador has been pushing into
As of late February, El Salvador had reportedly received $500 million in verbal commitments for its bond and discussed plans to issue billions more in bitcoin-backed financing in the future. A representative from the president's office and from Blockstream, which is supporting the bond with blockchain technology, did not immediately respond on Insider's request for comment on the timing of the bond.
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