Salvadoran Bitcoin Bonds Might Be Issued by State Geothermal Company La Geo, Delays Possible – Emerging Markets Bitcoin News

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In an interview offered to a local television program, Treasury Minister Alejandro Zelaya stated the country will be issuing the Bitcoin bonds through La Geo.

Salvadoran Bitcoin Bonds Might Be Issued by State Geothermal Company La Geo, Delays Possible

The treasury minister of El Salvador, Alejandro Zelaya, has informed about the future of the issuance of the bitcoin bonds and the possibility of these being issued by La Geo, the national geothermal power company. Zelaya also referred to the day of issuance of these instruments, hinting at a possible delay that would see the bonds go out to the market in May or even July.

that they will be issuing the bitcoin bonds through La Geo, which will have the responsibility of backing the instrument.However, Zelaya reassured future investors, explaining that even under this model, the state would be responsible for the bond issuance, giving warranties to bondholders. On this, Zelaya declared:If it is issued by La Geo or by the Salvadoran State, in the end, it is always a debt of the State. We as a state contribute all the capital. These are autonomous state companies.

, a city to be powered by geothermal energy. The first issuance of the bonds would be backed by bitcoin, offering 6.5%.Zelaya also referred to the exact date and time when these bonds will be issued, Zelaya stated that, according to his point of view, these bonds could go out to the market during the months of March and April. However, he noted that the situation is not favorable for this timeframe at the moment.

 

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