The President of El Salvador Nayib Bukele called out different Reuters for spreading the ‘FUD’ regarding the delays in the $1 billion volcano bond that is to take place in the country.
According to reports from crypto best sites for news, the President of El Salvador, Nayib Bukele had some pretty interesting things to say about the reports of Reuters regarding the volcano Bitcoin bond. This Wednesday, the President went on Twitter to post a tweet directly to Reuters.
In his post, he lashed out at the reports made by Reuters claiming that the CEO of Binance, Changpeng Zhao was coming over to El Salvador in order to save the Bitcoin bond. According to the President, this report is completely false and the President has left no stone unturned to let people know about that.
In the Twitter post that he made on Wednesday, Bukele urged the people to not spread Reuters FUD in the first place. Bukele currently has about 3.6 million followers on Twitter and hence a lot of people got to see the tweet that he made about the false reports of Reuters.
President of El Salvador Urges Fans to Not Spread the FUD of Reuters
“Please don’t spread Reuter’s FUD,” Bukele tweeted to his 3.6 million followers, rebuking the claim that CZ was flying in to assist after the $1 billion bond offering, originally scheduled for mid-March, was postponed until September. He was responding to a tweet on the subject by Bitcoin Magazine, which has now deleted the post.
Bukele stated that the delay in the “volcano bond” offering was primarily due to legislative delays in Congress, that his meeting with CZ has nothing to do with the bond offering and that the pair intends to discuss “other issues”.
Paolo Ardoino, CTO of Bitfinex — the company underwriting the bond — came to Bukele’s aid stating that the delays were largely due to laws concerning the bond issuance that still needed to be passed by Congress. Samson Mow, former chief strategy officer Blockstream — El Salvador’s partner in the bond launch — also joined in, tweeting that “nothing has changed”.
Earlier in the week, El Salvador’s Finance Minister Alejandro Zelaya said that the $1 billion bond, originally scheduled for mid-March would be delayed until September, citing geopolitical instability as the primary reason behind the delay.
Three hours after hitting out at Reuters reporting, Bukele was back on Twitter complaining about the US Government, responding to a proposed bill that seeks to minimize American exposure to El Salvador’s financial system following its adoption of Bitcoin as legal tender. The Accountability for Cryptocurrency in El Salvador Act was passed out of committee on Wednesday, and it is set to be voted on by the full U.S. Senate.
“Never in my wildest dreams would I have thought that the U.S. Government would be afraid of what we are doing here,” Bukele tweeted in response to the news, adding, “The US Government DOES NOT stand for freedom and that is a proven fact.”
According to the reports from crypto best sites for news, the bond that is backed by Bitcoin is currently being issued by El Salvador. This move by the country can be seen as a way of creating larger bitcoin reserves in the country. The main goal here is the construction of the Bitcoin city which is a development dedicated entirely to Bitcoin and associated blockchain technology.
It will reportedly use geothermal power from nearby volcanoes to power Bitcoin mining as well as the city’s infrastructure. Half of the $1 billion proceeds will go to construction costs and the remaining $500 million will be invested directly into Bitcoin.
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