Bitcoin country El Salvador's bonds yield 70 percent

Bitcoin country El Salvador’s bonds yield 70 percent

Debt bonds from El Salvador, whose bitcoin bonds have been delayed for more than a year and it is still unclear when they will be issued, attract the attention of the world’s important corporates with their 70 percent returns.

Investment is increasing, the eyes of the giants

According to Bloomberg’s news, there was a tremendous boom in bonds; This has prompted companies such as JP Morgan, Eaton Vance and PGIM Fixed to turn their attention to the Latin American country. Apart from these companies, some such as Lord Abbott & Company LLC, Neuberger Berman Group LLC and UBS Group have also bought bonds since April.

They protest and are now considering buying

The interest in these debt bonds from El Salvador is actually seen as the opposite approach to the bitcoin move 2 years ago. The country making bitcoin its official currency in 2021 drew a reaction from the western world. Institutions such as the IMF and the World Bank had cut off the credit tap for El Salvador and demanded that the bitcoin move be abandoned. Many large corporate companies that oppose the purchase of El Salvador’s debt bonds are considering buying these bonds today, after 70 percent returns in 8 months.

Increased confidence after repaying the loan

The fact that the Latin American country repaid $800 million of debt in one go at the beginning of the year surprised world markets and, thus, boosted confidence in the country. President Nayib Bukele, who announced he would run for re-election in the next election, said at the time, “We misled most financial circles. “They thought we would not be able to repay our debt after the move to bitcoin,” he said.

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