El Salvador Delays Placement of Bitcoin Bonds

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The government of El Salvador expected in mid-March to place the so-called Bitcoin bonds for $1 billion. The Ministry of Finance had previously said investors would be able to purchase securities between March 15 and 20.

However, the agency has changed its mind and said that this will not take place in the near future. Nonetheless, the country does not plan to completely abandon the sale of BTC bonds.

Finance Minister Alejandro Zelaya has said the decision to shift the timing was made under the pressure of global uncertainty and market risks.

Zelaya has stressed that the government could place bonds in May or June if the global economy stabilizes. Moreover, he does not exclude that the amount of attracted investments may increase to $1.5 billion.