Bitcoin City On Hold as Salvadoran Bitcoin Bonds are Pushed Back
The launch date of the Salvadoran Bitcoin (BTC) bonds, which would finance the development of Bitcoin City, is still unknown.
With an expected release earlier in the year, El Salvador’s Treasure Minister Alejandro Zelaya pushed the launch back due to the Russia-Ukraine war at a time of already unfavorable market conditions.
Currently, Zelaya says the El Salvador is still waiting for favorable conditions. In an interview on local television, he said:
“We are waiting for the right moment and the president says when… It depends on how the market is.”
The Treasury Minister added that the sudden fall of the cryptocurrency market and the price of BTC tanking is another consideration to postpone the bonds.
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Source: igaming
