El Salvador is set to make history early next year by issuing its long-anticipated Bitcoin bonds. These bonds, first announced in 2021, will raise funds to establish the world’s largest green Bitcoin mining operation. The country’s president, Nayib Bukele, tweeted a hint about the impending announcement, and the National Bitcoin Office confirmed that the volcano Bitcoin bonds had received regulatory approval. The bonds will be issued on Bitfinex’s securities trading division and aim to raise $1 billion.

Bukele’s plan is to allocate half of the funds raised to build the world’s first Bitcoin city, which will be tax-free for Bitcoin enthusiasts and powered by geothermal energy from nearby volcanoes. The other half will be used to purchase and hold Bitcoin. President Bukele has been a vocal Bitcoin advocate, with El Salvador becoming the first country to adopt Bitcoin as legal tender. The government has also been purchasing BTC as reserves, although the profitability of these investments has been volatile.

Despite Bukele’s enthusiasm for Bitcoin, there has been opposition and criticism, with many Salvadorians showing little interest in the cryptocurrency. Protests and demonstrations against the Bitcoin Law have taken place, highlighting the divide in public opinion. Nevertheless, the issuance of Bitcoin bonds represents a significant step towards El Salvador’s vision of becoming a global leader in green Bitcoin mining.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries	🇸🇻
Sentiment	very positive
Relevance Score	1
People	Nayib Bukele
Companies	Digital Assets Commission, National Bitcoin Office, Bitfinex
Currencies	Bitcoin
Securities	None