{"id":514670,"date":"2022-11-23T15:13:20","date_gmt":"2022-11-23T12:13:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bukeles-government-introduced-a-bill-to-launch-the-bitcoin-bonds\/"},"modified":"2022-11-23T15:13:20","modified_gmt":"2022-11-23T12:13:20","slug":"bukeles-government-introduced-a-bill-to-launch-the-bitcoin-bonds","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bukeles-government-introduced-a-bill-to-launch-the-bitcoin-bonds\/","title":{"rendered":"# Bukele&#8217;s government introduced a bill to launch the &#8216;Bitcoin bonds&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a28ffd9670b4\" 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-6a28ffd9670b4\" 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\/bukeles-government-introduced-a-bill-to-launch-the-bitcoin-bonds\/#%E2%80%9D_Bukeles_government_introduced_a_bill_to_launch_the_%E2%80%98Bitcoin_bonds_%E2%80%9C\" >&#8221; Bukele&#8217;s government introduced a bill to launch the &#8216;Bitcoin bonds&#8217; &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bukeles_government_introduced_a_bill_to_launch_the_%E2%80%98Bitcoin_bonds_%E2%80%9C\"><\/span>&#8221; Bukele&#8217;s government introduced a bill to launch the &#8216;Bitcoin bonds&#8217; &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNjBiYTkwMGEtYTU3My00NmNhLTkyNzctZTQwYjRkNGVlOWVhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5129e2ea>Amid the crypto market downturn, El Salvador finally makes a decisive step to the realization of its ambitious \u201cBitcoin bonds\u201d project. The Minister of the Economy Maria Luisa Hayem Brev\u00e9 introduced\u00a0 a bill confirming the government\u2019s plan to raise $1 billion and invest them into the construction of a \u201cBitcoin city.\u201d<\/p>\n<p>A 33-page digital securities <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.asamblea.gob.sv\/sites\/default\/files\/documents\/correspondencia\/4CCA02DF-7C4F-4B25-9725-821EB3618A5D.pdf\">bill<\/a>, dated Nov. 17, urges lawmakers to create a legal framework using the digital asses in public issuances by El Salvador. They should also consider all the requirements for this procedure and the obligations of issuers and asset providers. <\/p>\n<p>The \u201cvolcano bonds\u201d or \u201cBitcoin bonds\u201d were introduced by the government of Nayib Bukele back in 2021. The initial plan proposed issuing roughly $1 billion of those bonds and allocating the raised funds to the construction of a \u201cBitcoin city\u201d at the base of the Colchagua volcano. Supposedly, the hydrothermal energy of the volcano would make the city a perfect crypto-mining facility. Half of the raised funds would still be invested directly into Bitcoin. <\/p>\n<p><strong><em><u>Related: <\/u><\/em><\/strong><strong><em>Nayib Bukele announces Bitcoin pre<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\">script<\/a>ion for El Salvador: 1 BTC a day<\/em><\/strong><\/p>\n<p>During the last 12 months, the project has been repeatedly delayed \u2014 at some point, its launching phase was scheduled for the beginning of March, then it got postponed to September only to be put off one more time due to \u201csecurity reasons.\u201d <\/p>\n<p>According to some <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitcoinmagazine.com\/legal\/el-salvador-submits-bitcoin-bond-bill\">sources<\/a>, the bill may be approved by legislators before Christmas. Paolo Ardoino, CTO of cryptocurrency exchange Bitfinex, which collaborates with the government of El Salvador on the bonds project, seems to be optimistic about that time: <\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/paoloardoino\/status\/1595246771097288705\">https:\/\/twitter.com\/paoloardoino\/status\/1595246771097288705<\/a><\/p>\n<p>After making BTC a legal tender on Sept. 7, 2021, El Salvador accumulated over 2,301 BTC for roughly $103.9 million. During the bull market, the profit from the investment was even used to build schools and hospitals. However, as the country\u2019s economy continues to struggle, 77.1% of citizens prefer the Salvadoran government to stop \u201cspending public money on Bitcoin.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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\/bukele-s-government-introduced-a-bill-to-launch-the-bitcoin-bonds\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bukele&#8217;s government introduced a bill to launch the &#8216;Bitcoin bonds&#8217; &#8220; Amid the crypto market downturn, El Salvador finally makes a decisive step to the realization of its ambitious \u201cBitcoin bonds\u201d project. The Minister of the Economy Maria Luisa Hayem Brev\u00e9 introduced\u00a0 a bill confirming the government\u2019s plan to raise $1 billion and invest&#8230;<\/p>\n","protected":false},"author":1,"featured_media":514671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNjBiYTkwMGEtYTU3My00NmNhLTkyNzctZTQwYjRkNGVlOWVhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,74355,74336,90059],"class_list":["post-514670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-adoption","tag-bonds","tag-el-salvador"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/514670","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=514670"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/514670\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/514671"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=514670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=514670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=514670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}