“Sovereign Government Backs Volcano-Powered Magic Internet Money” (This is as Real as it is Wild)

TL;DR

• El Salvador is utilizing Volcanos to mine Bitcoin, and now you can purchase a government-backed 10-year ‘Volcano Bond.’

• You purchase a Volcano Bond → the federal government will purchase it again from you in 10 years → within the meantime, you get to gather 6.5% annual curiosity in your funding.

• The acquisition of a Volcano Bond reads as a guess on the concept Bitcoin will discover its means into international legacy monetary programs and change into an integral a part of international capital markets.

Full Story

This appears like a type of “think about when you may return 5 years and inform your previous self that this was about to change into a actuality” moments.

A sovereign authorities is backing volcano-powered magic web cash.

Or reasonably, El Salvador is utilizing Volcanos to mine Bitcoin, and now you can purchase a government-backed 10-year ‘Volcano Bond.’

(What!?)

The essential gist is that this:

You purchase a Volcano Bond → the federal government will purchase it again from you in 10 years → within the meantime, you get to gather 6.5% annual curiosity in your funding.

Bonds (as an funding car) are extra conservative than your nice uncle Ray, who you used to inform you to “cease cussing” once you’d say “this sucks.”

In shopping for a bond, you are principally making an attempt to take the most secure guess humanly attainable.

However ah, ‘Bitcoin’? ‘Volcano mining’? These phrases do not precisely scream ‘protected, conservative funding.’

So what is going on on right here?

From the place we’re standing, the acquisition of a Volcano Bond reads as a guess on the concept Bitcoin will discover its means into international legacy monetary programs and change into an integral a part of international capital markets.

As a result of a purchase order of a Volcano Bond places cash within the pocket of a rustic that is doing precisely that (inside its personal borders).

In case you assume assume this can be a profitable technique, you will most likely be assured that El Salvador will be capable of purchase again/pay curiosity on any Volcano Bonds you purchase.

What a time to be alive!