Here's how El Salvador's Bitcoin City gets funded...


The $1 Billion Dollar Bitcoin Bond is on the way

The world has been forever changed.

El Salvador is pushing forward with a bitcoin city.

This city is going to be funded by a bitcoin bond, more details of which can be seen below:

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(Source: https://twitter.com/nicolasburtey/status/1462263325392191490/photo/1)

Not sure I fully understand it all but it looks like they are going to raise a billion dollars to fund city development.

Then they will buy $500 million worth of bitcoin.

After 5 years they will start selling bitcoin to pay back the bond and any excess bitcoin will be paid out as bitcoin dividends...

Not sure I got it exactly right, but that is the gist of it.

For even more details here's the right up on the move:

https://www.reuters.com/markets/rates-bonds/el-salvador-plans-first-bitcoin-city-backed-by-bitcoin-bonds-2021-11-21/


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