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Are El Salvador’s Bitcoin ‘Volcano Bonds’ an End Run Around the IMF?

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Today on “The Breakdown,” a check in on El Salvador, where President Nayib Bukele has just announced “Bitcoin City,” a new community that will feature no income or capital gains tax and be designed to attract talent from around the world. The effort is being funded in part by a $1 billion bond that some are calling the “Volcano Bond.” The bond will be tokenized by Blockstream on Liquid and available for trade on Bitfinex. NLW covers the bitcoin world’s response to the information (in addition to some fintwit skepticism).

See additionally: Junk-Rated El Salvador’s ‘Bitcoin Bonds’ Look Explosive (Think Volcano)

“The Breakdown” is written, produced by and options Nathaniel Whittemore aka NLW, with enhancing by Rob Mitchell, analysis by Scott Hill and extra manufacturing assist by Eleanor Pahl. Adam B. Levine is our government producer and our theme music is “Countdown” by Neon Beach. The music you heard right now behind our sponsor is “Dark Crazed Cap” by Isaac Joel. Image credit score: Jaime Mejia/iStock/Getty Images Plus, modified by CoinDesk.

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