Agreed, and this $500M of Bitcoin will give them some really meaningful BTC exposure.
Public debt in El Salvador is only $19 billion today. A 10x jump in the price of Bitcoin over the next 5 years could help pay off ~25% of the entire country's debt burden.
That would be a game changer for highly-indebted countries everywhere.
Wild to think that the interest rate of government debt could move (ie fall/rise), inversely proportional to the price of BTC (ie rising/falling). Because the state would actually become more financially solvent. All due to BTC.
See the term sheet here
Good to see Liquid get its first customer after so long.
El Salvador is the weird guy in the office in 2013 that everybody laughed at.
He's figuring out how to do it.
He's stacking.
He's a bit loud and just a tiny bit arrogant.
But also, just infectiously optimistic and sincerely seems to just want the best for everybody.
Agreed, and this $500M of Bitcoin will give them some really meaningful BTC exposure.
Public debt in El Salvador is only $19 billion today. A 10x jump in the price of Bitcoin over the next 5 years could help pay off ~25% of the entire country's debt burden.
That would be a game changer for highly-indebted countries everywhere.
Wild to think that the interest rate of government debt could move (ie fall/rise), inversely proportional to the price of BTC (ie rising/falling). Because the state would actually become more financially solvent. All due to BTC.
This is huge news. El Salvador has moved so fast on Bitcoin it's incredible.