The president of El Salvador claimed that Reuters is spreading Fud on “Bitcoin bond delay”.
El Salvador is the first and single country in the world, where Bitcoin is a legal tender and also citizens don’t need to pay taxes on their gains on Bitcoin investment. Since Q4 2021, the El Salvador government is working on its $1billion Bitcoin bond to allow the citizens to invest in Bitcoin supportive initiatives with the government-backed bonds more likely traditional bonds.
On 24 March, Nayib Bukele, President of El Salvador, quoted a tweet of bitcoin news media Bitcoinmagazine on the delay in Bitcoin bond and suggested these media not to spread FUDs on Bitcoin Bond of El Salvador.
However, the tweet on “Delay in the Bitcoin bond of El Salvador” by Bitcoinmagazine was started by Reuters but Nayib targeted both the news outlets.
The tweet by Nayib Bukele can be seen below but the quoted tweet has been deleted (or may have disappeared) by Bitcoinmagazine.
I’m a fan of @BitcoinMagazine, please don’t spread @Reuters FUD.
The #Bitcoin Volcano Bonds
will be issued with @bitfinex.
The short delay in the issuance is only because we are prioritizing internal pension reform and we have to send that to congress before. https://t.co/chUGgdDBDc
— Nayib Bukele (@nayibbukele) March 23, 2022
Nayib also confirmed that he will meet with Changpeng Zhao, chief executive officer of Binance exchange, on the next day (today).
The El Salvador president confirmed that they will not discuss about the Bitcoin bond but surely they can discuss if Binance CEO will show interest to buy some Bitcoin bonds.
“I’m meeting with @cz_binance tomorrow to discuss OTHER issues, not the Volcano Bonds …Unless he wants to buy some, of course.”
However, the meeting of Nayib Bukele and Binance CEO is not related to the Bitcoin bond but still here both the personalities are legendary at their position. On one hand, Nayib Bukele is the first person in the world who introduced Bitcoin as a currency at the national level, on the other hand, Changpeng Zhao is the CEO and founder of the first ranked crypto exchange globally.
Delay in Bitcoin Bond issuance
No doubt that the Bitcoin bond is getting delayed but the reasons behind this delay are many because El Salvador doesn’t want to do anything blindly, instead they want to work under the traditional rules and system of the nation.
Last week, Alejandro Zelaya, finance minister of El Salvador, shared some details on the Bitcoin bond and said that Bitcoin Bond was scheduled to be introduced in mid of March but it is getting delayed because of citing geopolitical instability (Russia vs Ukraine war) as the primary reason behind the delay. Now it will probably be introduced in September of this year.
Read also: US regulators may approve Bitcoin spot ETFs by mid of next year
