El Salvador Postpones Bitcoin Bonds A Second Time, Here’s Why

El Salvador has been planning to release the world’s first Bitcoin bond for a while. This move had garnered a lot of interest from investors in the space who have been looking forward to taking advantage of this unique opportunity. However, the launch of the bitcoin bond has now been postponed for a second time. El Salvador’s finance miner, Alejandro Zelaya, gives the reason for the multiple delays. Not A Good Time The finance minister had put forward that it was not a good time for the launch of the El Salvador Bitcoin Bonds. This is due to the fact that the price of bitcoin had been in a decline and had therefore not provided a favorable time for the launch of the bitcoin bonds. It has started to irk some in the space because this is not the first time that the country would be postponing the launch of its infamous Vulcano Bonds, also known as bitcoin bonds. Related Reading | Bitcoin Dominates Derivatives Market To End May On A High Note The first time had been back in late March when the El Salvadorean government had announced that it had to postpone the launch. The reasons behind the postponement had been the same then as they are now; the financial market was not in a favorable place for the launch. Introducing an untested bond into the market at a time when there is a lot of geopolitical unrest may work against the success of such a bond. Finance minister Alejandro Zelaya explained that the move to push the launch b...