Reported about 9 hours ago
El Salvador's recent amendments to its Bitcoin law have led to a significant rise in the country's dollar bonds, which surged on Thursday following congressional approval needed to secure a $1.4 billion loan from the International Monetary Fund. The changes make Bitcoin acceptance by businesses voluntary and mandate that government payments are made in the currency they were issued. Despite the legislative shift, El Salvador remains committed to accumulating Bitcoin, with current reserves totaling 6,049 coins valued around $636 million. Investors have seen a 30% return on El Salvador's dollar debt over the past year, largely due to optimism surrounding potential IMF support.
Source: YAHOO