El Salvador’s “Volcano Bond” will not go live in March as the Salvadoran government expected previously, finance minister Alejandro ZelayaZelaya claimed that the delay was due to the volatile prices of BTC fueled by the Russia-Ukraine crisis. He added that the government of El Salvador decided to wait for favorable conditions in the financial market, expecting September at the latest, stating:
“Now is not the time to issue the bond [...] In May or June the market variants are a little different. At the latest in September. After September, if you go out to the international market, it is difficult to raise capital.”at $42,236, up around 10% over the past 30 days, according to data from CoinGecko. The cryptocurrency has lost nearly 50% of value since the Salvadoran government initially announced plans for its Bitcoin bonds in November.
As previously reported, the $1 billion bond was originally scheduled for launch in mid-March. El Salvador congressman William Soriano took to Twitter in early February to declare that the Bitcoin bond was expected to go live by the second or the third week of March.
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of course it's not easy to use bitcoin as a legal tender