The Bitcoin Bond: El Salvador Makes History
Authored by Sam Klemens via exodus.com,
El Salvador is planning to issue the world’s first Bitcoin bond and it’s a really big deal! This article will explain how the bond works, what El Salvador plans to do with the money and why other countries might start issuing their own Bitcoin bonds. Let’s dive in!
The Bitcoin Bond
El Salvador’s Bitcoin bond* will be worth $1 billion and it’s going to get split into two parts. Half the bond will be used to begin construction on a “Bitcoin city.” The second half of the bond will be used to buy $500 million worth of Bitcoin.
*A bond is a way for a country or corporation to take out debt. Investors give money to an entity which then makes interest payments on a predetermined basis. At the end of the bond’s duration the bond must be repaid in full…
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