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Expert calls El Salvador’s Bitcoin volcano bonds, ‘Michael Saylor playbook for a country’
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El Salvador’s “Bitcoin City” and the proposed $1 billion Bitcoin volcano bond have ignited a range of reactions across the world. These are ambitious plans, no doubt, but they come as the crypto market is seeing a downturn and major economies are fighting inflation.
During an episode of the What Bitcoin Did podcast, host Peter McCormack spoke to macroeconomist Lyn Alden about El Salvador’s Bitcoin volcano bonds and whether they make sense.
To be issued in 2022, the first volcano bond will have a BTC booster coupon rate of 6.5% and a decade-long duration. Interestingly, $500 million will reportedly be used for Bitcoin mining, while the other $500 million is ideally for buying BTC, which will be stored for five years. If it goes up in value,
Read more on ambcrypto.comAbout this in other media
MicroStrategy Spends Another USD 82m on Bitcoin cryptonews.com /3 years ago
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
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