WebThe bonds will be issued on Liquid Network (a bitcoin sidechain) for $1B. The smallest increment you can buy is $100, and requires you stake (tie-up) your bitcoin for 5 years. El Salvador will use $500M of that to buy bitcoin, and to buy mining equipment. The other $500M will be for city and volcano [geothermal] energy infrastructure. WebNov 29, 2024 · You see, $500 million of this bond will be used to buy and hold bitcoin. The other $500 million will be used to fund Bitcoin City infrastructure, including the …
Plans city powered volcano financed bonds - madis-fsl.org
WebNov 21, 2024 · Bitcoin Bonds Speaking at an event marking the end of Bitcoin Week, El Salvador's President Nayib Bukele said Saturday that the country plans to build the world's first "Bitcoin City," which will initially be funded through Bitcoin bonds, increasing the Central American country's bet on the cryptocurrency. WebJan 11, 2024 · El Salvador has voted to pass a bill which paves the way for the issuing of President Nayib Bukele’s bitcoin bonds. The plan, which was announced in November 2024, would entail El Salvador issuing $1 billion in bonds on Blockstream's Liquid Network, a federated Bitcoin sidechain. ian middleton obituary
El Salvador’s ‘Bitcoin City’ Will Cost 300,000 Bitcoins
WebNov 22, 2024 · The city will have residential and commercial areas, services, entertainment, restaurants and an airport. El Salvador also plans to raise about $1 billion via a “Bitcoin Bond” in partnership... WebNov 22, 2024 · To fund the project, El Salvador will issue $1 billion "bitcoin bonds" in 2024, according to Samson Mow, chief strategy officer of Blockstream, a blockchain tech … WebNov 21, 2024 · Financing for the city will come from bitcoin-backed bonds that the country plans to introduce in 2024, the first of which will be a 10-year $1 billion bitcoin-backed volcano bond with... ian mickle