SAN SALVADOR (Reuters) – El Salvador is looking for the right timing to launch its bitcoin-backed bond, which could happen between March 15 and 20, the Central American nation’s finance minister Alejandro Zelaya on Friday told local TV.
President Nayib Bukele aims to issue his country’s first-ever $1 billion bitcoin-backed bond this month and use the proceeds to buy more cryptocurrencies and build “Bitcoin City” – a planned metropolis that would use geothermal energy from a nearby volcano to “mine” the digital coins.
(Reporting by Nelson Renteria; Writing by Anthony Esposito; editing by Cassandra Garrison)
