Alejandro Zelaya, the Salvadoran Finance Minister, has stated that the country’s first $1 billion bitcoin bond issue will take place between March 15 and March 20. President Bukele said that he would use $500 million of the proceeds to build “Bitcoin City” and the other $500 million to buy even more Bitcoin and lock it up for five years when he first announced the Bitcoin bond on November 20, 2021 during a presentation at a Bitcoin Week event in the coastal town of Mizata.
National Public Radio (NPR), a privately and publicly funded non-profit media institution in the United States, discussed the Bitcoin revolution in El Salvador on Thursday. As you may recall, El Salvador’s Legislative Assembly passed a bill making Bitcoin legal cash on June 9, and the Bitcoin Law went into effect on September 7, 2021.
During a national address on June 24, 2021, Salvadoran President Nayib Bukele declared that the Bitcoin Law would take effect on September 7, 2021.
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