Tag Archives: Salvadors

(Bloomberg) — Plans for a $1 billion Bitcoin bond in El Salvador sent the nation’s dollar-denominated bonds to an all-time low. Most Read from Bloomberg El Salvador’s dollar denominated notes due in 2050 slumped to 63.4 cents on the U.S. dollar on Tuesday, the lowest on record. The Central American country’s debt has been among the world’s worst performers so far this week as investors consider whether President Nayib Bukele’s plan to sell sovereign Bitcoin bonds closes the door on… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, September 8, 2021 A country’s embrace of bitcoin puts 2 competing crypto visions on display Tuesday marked what one observer called the “start of a new world,” as El Salvador officially became the first country to accept bitcoin as legal tender.  The eagerly anticipated move is a big test of cryptocurrency’s staying power, and… Source link

By Susan Mathew Sept 7 (Reuters) – Latin American currencies weakened on Tuesday as rising U.S. Treasury yields sent the dollar rallying, while El Salvador became the first country in the world to adopt bitcoin as legal tender. The adoption of the cryptocurrency, which will serve alongside the U.S. dollar in the country, suffered teething problems when the government had to unplug a digital wallet to cope with demand. President Nayib Bukele said El Salvador holds 400 bitcoins. He expects the… Source link

A regional deputy belonging to an opposition party in El Salvador and a group of citizens have sued the government over the country’s new bitcoin law, calling it unconstitutional. According to a report on Tuesday by Spain’s second-largest newspaper, El Mundo, Jaime Guevara of the Farabundo Marti National Liberation Front (FMNL) has joined a group of citizens to oppose the law. FMNL is one of the country’s two major political parties, and Guevara is the deputy of Morazán, a province in… Source link