in July last year that El Salvador’s decision to purchase bitcoin on a macroeconomic level could harm its monetary network and prevent it from paying its debt. Bukele further stated that the bond was settled without having to ink a deal with the International Monetary Fund .Changpeng Zhao – CEO of the world’s leading crypto exchange, Binance – congratulated El Salvador for meeting its financial obligations.
“Unfortunately, for the disinformation campaign of some national and international media, we announce that on this day, we have completed the payment of the 2023 bond for $800 million, plus interest.”Reuters that the government recently paid $604.1 million and interest of $23.4 million, as well as carrying out another two transactions in 2022.bitcoin in September 2021, and its authorities have remained supportive even through the prolonged bear market.
El Salvador has also used the challenging macroeconomic situation as an opportunity to purchase more amounts of the digital asset. Latest data shows that it holds 2,381 BTC, but the number could be higher since President Bukelethat the government will buy one bitcoin per day in mid-November. However, there is no information on whether the buying spree goes as promised.
The nation currently sits on significant paper losses due to the depreciation of the cryptocurrency market. El Salvador spent over $103 million to accumulate its stash over the years, which is worth nearly two times less as of now.
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Source: Reuters - 🏆 2. / 97 Read more »