El Salvador bonds are rallying after their offer to repurchase existing Bitcoin bonds for cash – here’s why they could be a profitable HODL.
President Bukele and El Salvador had a crypto vision long before the United States SEC approved the first batch of spot Bitcoin ETFs.
In 2020, when the world was being battered by the COVID-19 pandemic and interest rates at record lows in some jurisdictions, its visionary president, Nayib Bukele, approved Bitcoin as legal tender.
They even announce daring plans, declaring that the country will tap into its vast volcanos to mine Bitcoin.
Four years later, even with fluctuating prices, El Salvador is turning around the corner, and their Bitcoin “experiment,” by all standards, continues to yield surprising results.
If anything, Bukele’s Bitcoin bet is paying off handsomely.
There have been glitches here and there, especially from world financiers, including the International Monetary Fund (IMF), who think Bukele is taking the country in the wrong direction.
They see the president as a polarizing figure in the international community, mostly due to his bold decision to endorse Bitcoin as legal tender, not just the USD.
El Salvador Bonds Soaring After Re-Purchase Offer
After the Bitcoin mining, accumulation, and legal tender move, El Salvador bonds, looking at Bloomberg data, are soaring.
Due to the high yield, viewed by some as due to being risky, these bonds have been surging in the global markets.
But the trigger is something else.
On October 8, El Salvador offered to buy back existing bonds and issue new notes to save costs and, in their assessment, promote sustainability.
Some say this strategic move is a vote of confidence that the country’s future is bright and geared to ensuring El Salvador remains financially strong and manages its external debts.
Pepe Unchained: Stake PEPU And Earn Big Returns, Over $17.9 Million Raised
As El Salvador rides on its Bitcoin success, the world watches Pepe Unchained, an Ethereum layer-2 solution dedicated to meme coins.
The ambitious platform aims to boost transaction speeds, reduce fees, and offer a myriad of DeFi features to meme coin traders globally.
Considering what it offers, it is no surprise that Pepe Unchained has raised over $17.9 million in its ongoing presale.
Each PEPU is trading for $0.00994, but analysts expect prices to soar once the token lists on top exchanges, including Uniswap.
Additionally, PEPU holders can stake, receiving passive returns, just like El Salvador bondholders, albeit at a higher rate of 121% APY. So far, over 1.3 billion PEPU has been locked.
The team wants to build a vibrant ecosystem on its interoperable and highly performant Pepe Chain layer-2.
For this reason, they will launch the “ Frens with Benefits ” program by the end of the year to attract developers. Those who build will receive grants and rewards.
VISIT PEPE UNCHAINED HERE
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
