El Salvador Bitcoin Bond Issuance Coming as Soon as March 15: Finance Minister

In a TV appearance, Alejandro Zelaya also confirmed that the coupon for the paper will be 6.5%.

AccessTimeIconFeb 9, 2022 at 4:49 p.m. UTC
Updated May 11, 2023 at 3:57 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

El Salvador’s initial $1 billion bitcoin bond issue will take place between March 15 and March 20, Finance Minister Alejandro Zelaya said Tuesday.

  • Speaking on Salvadoran TV show "Frente a Frente", Zelaya said the bond will be launched on Liquid, a bitcoin-based service created by Blockstream, and come with a 6.5% coupon.
  • The use of Liquid, said Zelaya, will allow investors to take part in the deal with as little as $100. "Bonds will comply with all financial market regulations,” he added. “All [know-your-customer] requirements will be met, all due diligence will be done.”
  • Samson Mow, chief strategy officer of Blockstream, told CoinDesk in December the bond already had $300 million worth of soft commitments.
  • When announcing the bitcoin bond in November, El Salvador President Nayib Bukele said half of the $1 billion raised would be used to help construct needed energy and bitcoin mining infrastructure, and the rest used to add to the country’s holdings of the crypto.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Andrés Engler

Andrés Engler was a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.