London/Mexico City | Bond investors have taken a dim view of El Salvador’s plans to borrow $US1 billion ($1.38 billion) to fund a volcano-powered “bitcoin city”, saying the scheme could push the country further from access to traditional debt markets.
President Nayib Bukele, who in September made bitcoin legal tender in the Central American country, said on Sunday (Monday AEDT) that half the proceeds would be used to buy the cryptocurrency with the rest going towards infrastructure and bitcoin mining.