Breaking: El Salvador Announces Bitcoin Volcano Bonds Issuance Date
Putting an end to the wait for the widely anticipated Bitcoin Volcano Bonds, El Salvador’s regulators have granted permission for issuance of the bonds in early 2024.
Also Read: US Senator Elizabeth Warren Targets Crypto in New Regulatory Bill
Date Set For Bitcoin Bonds Issue
Stacking up on its Bitcoin-friendly reputation, the El Salvador government is continuing to provide approvals for crypto related businesses. In a latest, El Salvador’s Bitcoin Volcano Bonds are set to be officially released in the first quarter of 2024. According to reports, the Digital Assets Commission (CNAD) gave regulatory approval for the Volcano Bond. The CNAD is a government agency that looks after the regulation and supervision of the digital assets ecosystem in El Salvador.
The country’s president Nayib Bukele tweeted,
Wen volcano bond? 🥺
— Nayib Bukele (@nayibbukele) December 12, 2023
It remains to be seen if the Bonds have a uniform timeframe like one year or would be available for trade just like any other cryptocurrencies. The Latin American country first floated the idea of Bitcoin Volcano Bonds in early 2024, when CoinGape reported that the country’s administration envisions a dream to build the Bitcoin City. At the time, it was reported that a crypto exchange would issue the ‘Volcano’ tokens, which are originally bonds issued through blockchain.
What Are Bitcoin Volcano Bonds
Ever since making Bitcoin legal tender, El Salvador took an aggressive approach aiming at leveraging Bitcoin volatility. The administration had originally planned to raise around $1 billion via the Volcano bonds, half of which would go towards building the tax-free Bitcoin City and the other half for investing in BTC.
In a latest, president Bukele unveiled a new residency program aimed at high net worth individuals, which offers citizenship to those who can bring in substantial investments in BTC or the USDT stablecoin. This is a citizenship by investment initiative called as the “El Salvador Freedom Visa Program” that offers citizenship to a maximum of 1,000 people.
Also Read: Coinbase Announces SEAM Token Listing and Airdrop
- Bitget Launches MONAD Earn With 20% APR, 800K MON Airdrop Campaign
- Michael Saylor’s Strategy Buys 130 Bitcoin, Establishes $1.44B Reserve For Dividend Payments
- Legendary Trader Peter Brandt Warns Deeper Bitcoin Price Crash Below $58K
- Bitcoin ETFs See Worst Month Since February With $3.5B Outflows as BTC Slumps Again
- Crypto Market Crash Erases Fed Rate Cut-Driven Bitcoin, ETH, XRP, SOL, ZEC Gains
- Is Pepe Coin Price at Risk After Forming This Bearish Pattern?
- Bitcoin Price Drops to $87K in a Rapid Crash: What Sparked the Sell-Off?
- Will Fusaka Upgrade Push Ethereum Price to New Highs?
- Bitcoin Price Poised for a $100k Run as Coinbase Premium Turns Positive
- XRP Price Prediction: Why XRP Could Rally to $3 This Week?
- Ethereum Price Prediction 2025: How High Can ETH Go by Year-End?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
