El Salvador, which treats Bitcoin as legal tender and has been repeatedly warned by the International Monetary Fund (IMF) about its debt risks, is profiting from the rise in Bitcoin, President Nayib Bukele Not only has it recently shown off its wallet balance, it also announced today (4/9) that it will buy back foreign debt maturing from 2025 to 2029, amounting to approximately US$7.7 billion.
The Republic of El Salvador announced that it has officially launched a purchase offer for foreign debt maturing from 2025 to 2029, inviting investors who hold its bonds to A valid bidding plan will be submitted before April 15th, and settlement will be made on April 19th.
According to its press release, El Salvador currently still has three bonds maturing in 2025, 2027 and 2029, with an outstanding amount of approximately 1.75 billion.
El Salvador has purchased a large number of Bitcoins, and his income has been outstanding this year. President Nayib Bukele announced El Salvador’s “National Wallet” on March 15 and nicknamed it “the first Bitcoin deposit bank.”
In addition, he also said that he would invest 1 Bitcoin every day, starting from March 16th, the first new investment (at the time was 5,689 Bitcoins). Currently, there are 5,714 Bitcoins accumulated, worth approximately US$400 million.
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