Key Takeaways
- Bukele and Villaruel discussed Bitcoin and volcano bonds during their meeting.
- El Salvador's $1 billion volcano bond project will fund Bitcoin purchases and energy infrastructure.
- Argentina’s President Milei has been a vocal supporter of Bitcoin.
El Salvador’s President Nayib Bukele met with Argentina’s Vice President Victoria Villaruel to discuss Bitcoin and El Salvador’s volcano bond project.
Villaruel expressed strong interest in Bitcoin during their conversation at the Argentine Senate, telling Bukele:
It’s something that interests me a lot.
Potential of Bitcoin
The conversation covered the potential of Bitcoin and included insights into El Salvador’s Bitcoin bonds, or volcano bonds, which were introduced in 2021.
The project, led by Bukele and JAN3 CEO Samson Mow, aims to issue $1 billion in bonds through the Bitcoin sidechain Liquid Network.
Half of the bond proceeds will be used to buy Bitcoin, while the other half will fund energy and mining infrastructure in El Salvador.
In December 2023, the country’s Digital Assets Commission approved the framework for issuing these bonds.
Argentina & Bitcoin
Argentina’s growing interest in Bitcoin aligns with President Javier Milei’s stance.
Milei has been a vocal supporter of Bitcoin, viewing it as a tool for transferring monetary power to the private sector, furthering the dialogue between the two nations on adopting Bitcoin into national policy.
