Eurobonds for Bitcoin City are almost ready: how much do they cost and other details

  • The Ministry of Finance of El Salvador announced that the country is ready to issue bitcoin bonds
  • They send to Congress about new bills
  • Vulcano bonds caused a great sensation among investors
  • A third of the bonds have already been sold out under verbal agreements

El Salvador’s Finance Minister Alejandro Zelaya announced that they are ready to issue Volcano Bonds for Bitcoin City. It remains only to pass a number of bills that regulate the issue, purchase and sale of Eurobonds. The authorities promise that investors will be able to buy the first tokenized bonds in the second half of this year.

year

The purpose of such bonds is to build the world’s first Bitcoin City. This is the name of the enclave for bitcoin supporters, as well as for miners who will use geothermal energy from nearby volcanoes in their work.

Cost and redemption rules

Previously, the authorities explained that Eurobonds would be tokenized. This means that the investor can buy a small share, and not a whole part. The state is considering an option with a minimum price from could participate in financing.

Volcano Bonds have – a summer term with a payment of 6.5% through the Liquid Network. The total amount of bonds will be $ 1 billion. The country converts half of the money received into bitcoins. The other will often go to the construction of infrastructure and mining. the amount 100% of the rise in the price of bitcoin, but only after how they will recoup their initial investment.

Ahead – 10 bills

El Salvador’s Finance Minister Alejandro Zelaya has sent 22 bills that regulate operations with Volcano Bonds:

“We are the first country which issued bitcoin bonds. And since we are the first, this must be properly regulated. ”

The Minister also assured that El Salvador will not abandon the traditional market … Bitcoin City will accept other types of investments. By the way, they counted on loans from the IMF, but the fund criticizes them for their excessive love for cryptocurrencies.

The President of El Salvador confirmed the progress in Eurobonds. On his Twitter, he wrote that such bonds open up freedom for business.

Related Articles

Back to top button