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El Salvador Steps Closer to Issuing Controversial Bitcoin Bonds, Plans to Raise $1 Billion

The El Salvador government has proposed the issuance of blockchain bonds, with a minimum investment of $100. According to the bill, the nation’s goal is to raise $1 billion via those products and stimulate the advancement of numerous crypto projects.

$500 million of that amount will be scheduled for financing the infrastructure of the coastal Bitcoin City that will use geothermal energy from a volcano to mine the asset. The authorities plan to use the remaining $500 million to buy BTC.

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