Retail and institutional investors will have to wait further for the $1 billion Bitcoin Bonds as El Salvador has postponed its planned offering.
Amidst geopolitical turmoil, the country’s Finance Minister Alejandro Zelaya said they would wait for favorable conditions in the financial market, and the hold-up be could be as late as September.
Unfavorable Market Conditions
The El Salvadorean central bank was previously scheduled to launch the long-awaited Bitcoin Bonds between March 15-20. However, Russia’s invasion of Ukraine and its effects on Bitcoin’s price led the government to change its course, as per the latest report by Reuters. In an interview with a local show, Zelaya was quoted saying,
“I think this is not the time. There are some moves on the planet. In May and June sometimes you can, but the market variables get different. After September, it is difficult to raise, unless you are previously funded, as in the case of Bitcoin Bond.”
President Nayib Bukele announced t
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