El Salvador is making plans to factor subsequent 12 months $1 billion in bonds sponsored by means of bitcoin, the newest effort by means of the economically stressed out Central American country to draw crypto capital.

The rustic this 12 months changed into the first to adopt bitcoin as a countrywide foreign money. It plans to promote $1 billion in U.S. dollar-denominated 10-year bonds with a chit of 6.5%. Part of that cash can be used to shop for bitcoin to carry for 5 years and the remaining would fund development tasks associated with bitcoin.

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