SAN SALVADOR: The International Monetary Fund (IMF) on Monday warned El Salvador against using Bitcoin as an official tender given the risks associated with the cryptocurrency, a day after the country announced plans for the world’s first “Bitcoin City”. El Salvador, which has used the US dollar for two decades, became the first country in the … Read more
El Salvador plans to issue the world’s first sovereign $1 billion US dollar denominated 10-year Bitcoin bonds on the Liquid Network, Bloomberg reported, citing the chief strategy officer of Blockstream. The so-called “volcano bond” is to be equally split between an allocation in Bitcoin and Bitcoin mining infrastructure powered by geothermal energy in the region, Samson Mon … Read more
As per the announcement of President Nayib Bukele, 150 more bitcoins (BTC) have been purchased by El Salvador, taking the Central American country’s holdings of the unstable crypto to 700 coins. Bukele tweeted that “We just bought dip,” mentioning the latest fall in BTC values. Prior to this month, El Salvador became the first state … Read more
