"El Salvador can also pay the bonds even if others do not believe in the ability of its country."
Although his people thought the country was going to face financial problems, El Salvador President Nayib Bukele who is a staunch supporter of the cryptocurrency Bitcoin (BTC) announced that the government managed to repay $800 million worth of bonds including interest.
It is understood that the government on January 23, 2023 has paid $604.1 million and $23.4 million in interest, following two other transactions in 2022.
Even so, he was disappointed with the international media channels that were not interested in spreading the proud news even though they were among the most doubtful of the ability to repay the bond.
Among them is The New York Times who claimed that El Salvador could not pay their debt if the country bought a certain amount of BTC, but the opposite happened when the bond could be settled without an agreement with the International Monetary Fund (IMF).
Pleased to inform that the Chief Executive Officer (CEO) of Binance, Changpeng Zhao (CZ) was the first person to congratulate El Salvador on the success.
For context, El Salvador has been accepting BTC since September 2021 and its authorities remain supportive of the digital asset despite the crypto market's continued bearish movement.
So far, the country has been found to hold 2,381 BTC but the number may be more than that as President Bukele once planned in November last year to buy one BTC per day.
