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El Salvador To Issue $1 Billion Dollar Bond. $500 Million To Buy Bitcoin, And $500 Million to Build Bitcoin City in El Salvador | Nov 20th 2021

El Salvador To Issue $1 Billion Dollar Bond. $500 Million To Buy Bitcoin, And $500 Million to Build Bitcoin City in El Salvador | Nov 20th 2021

El Salvador To Issue $1 Billion Dollar Bond. $500 Million To Buy Bitcoin, And $500 Million to Build Bitcoin City in El Salvador | Nov 20th 2021 from Bitcoin




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49 Comments

  1. Worth mentioning there will be **no taxes** in Bitcoin City except for sales tax (13% in 🇸🇻).

    0% capital gains tax, 0% payroll tax, 0% income tax, 0% property tax, 0% municipal tax etc

  2. I see many people calling this a scam, but all investment comes with risks…

    This is a bet on El Salvador possibility becoming the cryptocurrency center in Latin America region and possibly the world. I sincerely hope they succeed!

  3. El Salvador is picking Bitcoin as its reserve currency.
    In 1945, over a 100 countries with to the USA Bretton Woods. They created the the IMF. Countries across the globe put in their gold. The new fiat money they printed and a sub-set of it go into the IMF. Their reserve backing was IMF SDRs (Special Drawing Rights), which were backed by USD and gold.
    El Salvador is replacing all of that with bitcoin backed in the form of bitcoin as reserve currency, asset backed currency (BTC assets), and removing their countries ability to print money. They are replacing the entire systems: IMF, SDRs, etc.

  4. It sounds lame. But they are actually going to experiment with no taxes and free markets? That seems to be what the world needs right now. A group of people who are thinking outside the box.

  5. Can you fucking imagine if El Salvador went all in on bitcoin? It could literally become a developed country in the next 10 years if BTC 50-100x. Going from the highest murder rate in the world to developed would be incredible

  6. $500M to buy BTC & same for mining infrastructure. Bond “will have special dividends dispersed on an annual basis generated by the staggered liquidation of bitcoin”.
    So selling what they bought in order to make pay outs or gonna wait until mining takes over?

  7. This guy is making history. El Salvador will flourish in years to come. The country is setting the standard of which many other countries will soon follow. In time to come everyone will see that bitcoin works and it is what humanity and the world needs for all of us to prosper. It is the answer we have all been looking for.

  8. I love how they saved money on the event by getting the president’s cousin to run the presentation. Shows you they aren’t frivolously spending the country’s wealth and are focusing it where it should be.

  9. Omg. That’s hilarious. This is a worse investment than the Nigerian Prince. I cannot wait to see r/bitcoincity posts about people putting their life savings into buying yet to be built buildings in El Salvador. Don’t disappoint me morons!

  10. Isn’t this a really bad idea or am I misunderstanding? Does the 500 million in Bitcoin have to be repaid in Bitcoin or dollars? Is the loan in dollars or in Bitcoin? Because having to repay in Bitcoin would likely bankrupt this country.

  11. I love Bitcoin and believe that it’s the future as well as other crypto innovations. But surely El Salvador would be better to use the money from the bond for a 50/50 – Bitcoin/Some sort of hedge? Bear markets are REAL and I would think the longevity of what they’ve started would be the safest course for them during this cycle. Crawl before you walk kinda deal. A Bitcoin City sounds epic but it’s probably gonna scare the fuck outta some governments in other countries and could result in a major setback

What do you think?

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