{"id":419336,"date":"2022-03-21T16:24:30","date_gmt":"2022-03-21T13:24:30","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/el-salvador-seems-to-delay-its-volcano-bonds-launch\/"},"modified":"2022-03-21T16:24:30","modified_gmt":"2022-03-21T13:24:30","slug":"el-salvador-seems-to-delay-its-volcano-bonds-launch","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/el-salvador-seems-to-delay-its-volcano-bonds-launch\/","title":{"rendered":"# El Salvador seems to delay its &#8216;volcano bonds&#8217; launch"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a37e4ed581d8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a37e4ed581d8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/el-salvador-seems-to-delay-its-volcano-bonds-launch\/#%E2%80%9D_El_Salvador_seems_to_delay_its_%E2%80%98volcano_bonds_launch_%E2%80%9C\" >&#8221; El Salvador seems to delay its &#8216;volcano bonds&#8217; launch  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_El_Salvador_seems_to_delay_its_%E2%80%98volcano_bonds_launch_%E2%80%9C\"><\/span>&#8221; El Salvador seems to delay its &#8216;volcano bonds&#8217; launch  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvODllYjRiNWUtOGRjNC00MDNmLWE0NmMtN2Q5M2Y5ODI1YmNiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Considering the absence of any official announcements, El Salvador\u2019s government seems to have delayed the launch date of the so-called \u201cvolcano bonds.\u201d Earlier, Salvadoran finance minister Alejandro Zelaya had been reassuring the public that the project would start off by March 20.\u00a0<\/p>\n<p>Speaking at the local TV show on Friday, El Salvador\u2019s finance minister once again <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/finbold.com\/el-salvadors-finance-minister-says-a-bitcoin-backed-bond-might-be-issued-march-15-20\/\">announced<\/a> that the launch of so-called \u201cvolcano bonds\u201d should take place somewhere between March 15 and 20 \u2014 the same dates were <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/news\/el-salvador-bitcoin-bond-issuance-164918131.html\">declared<\/a> during his previous TV <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>earance in February. Albeit this time Zelaya mentioned the unstable political situation in the world as one of the factors that could influence the planned timing. <\/p>\n<p>The project of a coin-shaped \u201cBitcoin city\u201d at the base of the Conchagua volcano was introduced by El Salvador\u2019s president Nayib Bukele in November 2021. In Bukele\u2019s vision, the construction of this new town with the crypto mining operations and minimal taxes would be financed by the issuance of $1 billion in bonds. These bonds, which have since become famous as \u201cBitcoin bonds\u201d or \u201cvolcano bonds\u201d, are supposed to last 10 years and pay 6.5% annual interest to their holders. <\/p>\n<p>In December 2021, Samson Mow, chief strategy officer of Blockstream, El-Salvador\u2019s partner in the bond launch, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coindesk.com\/layer2\/2021\/12\/16\/behind-the-scenes-of-el-salvadors-bitcoin-bond-with-the-man-who-designed-it\/\">revealed<\/a> that the platform had already received $300 million worth of \u201csoft commitments\u201d, mostly from \u201cBitfinex whales\u201d. Responding to Cointelegraph&#8217;s request in February, Fernando Nikolic, marketing director at Blockstream, assured that the company would make an announcement regarding the matter in Q1 2022. <\/p>\n<p>As the\u00a0Financial Times\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/5972099a-8a8c-4a85-8216-912cd78b710b\">report<\/a>ed, the necessary legislation to launch the bond sale still didn\u2019t pass through the Salvadoran parliament. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Living on a volcano: The outlook of El Salvador\u2019s crypto mining industry<\/em><\/strong><\/p>\n<p>Cointelegraph sent the press request to the presidential administration of El Salvador. As Nikolic informed Cointelegraph, Blockstream doesn&#8217;t know about the new dates of the launch because Blockstream is not directly working with the country of El Salvador to offer EBB1. <\/p>\n<blockquote><p>\u201cEBB1 will simply be issued on the Liquid Network, which is operated by members geographically distributed all over the world. Blockstream serves only as a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> provider. So whenever they are ready they will be able to issue the bond on Liquid the same way anyone else can.\u201d<\/p><\/blockquote>\n<p>In the meantime, El Salvador\u2019s neighboring nation, Honduras, could follow its lead to become the second nation in the world to officially accept Bitcoin (BTC) as a payment method. According to some sources, that <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=vSAxhQZWT_4\">follows<\/a> from the Honduran president Xiomara Castro\u2019s claim that El Salvador shouldn\u2019t be the only country \u201cescaping dollar hegemony.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/el-salvador-seems-to-delay-its-volcano-bonds-launch\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; El Salvador seems to delay its &#8216;volcano bonds&#8217; launch &#8220; Considering the absence of any official announcements, El Salvador\u2019s government seems to have delayed the launch date of the so-called \u201cvolcano bonds.\u201d Earlier, Salvadoran finance minister Alejandro Zelaya had been reassuring the public that the project would start off by March 20.\u00a0 Speaking at&#8230;<\/p>\n","protected":false},"author":1,"featured_media":419337,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvODllYjRiNWUtOGRjNC00MDNmLWE0NmMtN2Q5M2Y5ODI1YmNiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,74336,90059,70934],"class_list":["post-419336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-bonds","tag-el-salvador","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/419336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=419336"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/419336\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/419337"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=419336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=419336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=419336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}