Bitcoin

<div class="cryptonews">
 <p class="is-style-lead">El Salvador’s Bitcoin “volcano bonds” are set to be launched in early 2024 following reported regulatory approval.</p>
 <p>The National Bitcoin Office (ONBTC) announced on Dec. 11 that the <a rel="noopener noreferrer nofollow" title="bonds" href="https://thebittimes.com/tag/bonds.html">bonds</a> had received approval from El Salvador’s Digital Assets Commission, with a planned release in Q1 of 2024.</p>
 <p>The <a rel="noopener noreferrer nofollow" title="bonds" href="https://thebittimes.com/tag/bonds.html">bonds</a>, with a ten-year duration, offer an annual return of 6.5% to investors.</p>
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    <p lang="en" dir="ltr">BREAKING NEWS <br><br>The Volcano Bond has just received regulatory approval from the Digital Assets Commission (CNAD).<br><br>We anticipate the bond will be issued during the first quarter of 2024.<br><br>This is just the beginning for new capital markets on #Bitcoin in El Salvador.<br><br></p>— The Bitcoin Office (@bitcoinofficesv) December 12, 2023
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 <p>President Nayib Bukele, a vocal advocate of Bitcoin, echoed this development in an X post captioned “Wen volcano bond,” and additionally shared multiple posts indicating the issuance of the bonds in Q1 2024.</p>
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    <p lang="en" dir="ltr">Wen volcano bond?</p>— Nayib Bukele (@nayibbukele) December 12, 2023
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 <p>The so-called “<a rel="noopener noreferrer nofollow" title="volcano" href="https://thebittimes.com/tag/volcano.html">volcano</a> <a rel="noopener noreferrer nofollow" title="bonds" href="https://thebittimes.com/tag/bonds.html">bonds</a>” initiative was unveiled by Bukele in November 2021, shortly after he passed a law recognizing Bitcoin (BTC) as legal tender in the country.</p>
 <p>These bonds aim to alleviate sovereign debt and finance the construction of the country’s proposed “Bitcoin City.”</p>
 <p>The ONBTC also noted that the bond would be issued on the Bitfinex Securities Platform, a blockchain-based trading platform for equities and bonds registered in El Salvador.</p>
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 <p>The introduction of these <a rel="noopener noreferrer nofollow" title="bonds" href="https://thebittimes.com/tag/bonds.html">bonds</a> marks a significant step towards establishing Bitcoin-centric capital markets in the nation.</p>
 <p>El Salvador recently embarked on a $1 billion Bitcoin mining venture, utilizing a 241-megawatt capacity powered by the country’s volcanic energy. This project is a collaboration with Luxor Technology and will be fueled by the Conchagua <a rel="noopener noreferrer nofollow" title="volcano" href="https://thebittimes.com/tag/volcano.html">volcano</a>, which plays a central role in the nation’s cryptocurrency mining activities.</p>
 <p>Additionally, the country has recently launched the “Freedom VISA” program, which offers residency to individuals investing a minimum of $1 million in Bitcoin or tether (USDT) stablecoins. This initiative is capped at 1,000 people annually and represents another significant step in El Salvador’s embrace of digital currencies.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/el-salvador-approves-launch-of-bitcoin-volcano-bonds-for-q1-2024-tbt73381.html">https://thebittimes.com/el-salvador-approves-launch-of-bitcoin-volcano-bonds-for-q1-2024-tbt73381.html</a></p>

El Salvador approves launch of Bitcoin volcano bonds for Q1 2024

TheBitTimes

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