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El Salvador's dollar debt dives on Bitcoin bond plans
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El Salvador’s dollar-denominated bonds have fallen to an all-time low as the Central American nation’s debt started trading in "distressed territory" this week.
El Salvador’s USD bonds fell to 64.4 cents to the dollar on Monday, Nov. 22, following the weekend news that the Central American country would use Bitcoin (BTC) bonds to fund its Bitcoin City initiative. Dollar bonds have fallen steadily since April 2021 when they topped $1.10 according to Bloomberg data.
A dollar-denominated bond is a bond issued outside of the United States by a foreign company or government, that is denominated in USD instead of their local currency.
Monday’s drop resulted in the country’s debt becoming among the worst performers in global trading, Bloomberg
Read more on cointelegraph.comAbout this in other media
El Salvador stacks 150 Bitcoin after BTC price crashes below $50k cointelegraph.com /3 years ago
The bigger picture: What does El Salvador’s Bitcoin city mean for the global crypto market? economictimes.indiatimes.com /3 years ago
Mainstream Analysts Pour Scorn on El Salvador’s Financial Plans and Bitcoin Intentions cryptonews.com /3 years ago
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