El Salvador's Volcano Bond Might Have…

El Salvador is planning to issue a billion-dollar ‘bitcoin backed’ volcano bond on a blockchain, even as the country inches towards a sovereign debt crisis. Authorities hope to use $500M to buy bitcoin, distribute half of the upside (if any) to bondholders in five years, and use the other $500M to fund geothermal energy projects and the development of a so-called bitcoin city.

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