Bitcoin bond plan sends El Salvador’s dollar debt diving

The Central American country’s debt was among the world’s worst performers on Monday as investors considered whether President Nayib Bukele’s plan to sell sovereign bitcoin bonds closes the door on a deal with the International Monetary Fund.

NEW YORK: Plans for a US$1bil (RM4.2bil) bitcoin bond in El Salvador sent the nation’s dollar-denominated bonds to an all-time low.

El Salvador’s dollar denominated notes due in 2050 fell 2.2 US cents to 64.4 US cents (92 sen to RM2.70) on the US dollar on Monday, the lowest ever.