We Study Billionaires - The Investor’s Podcast Network BTC054: A Sovereign Bitcoin Bond in El Salvador w/ Adam Back & Samson Mow (Bitcoin Podcast)
Dec 1, 2021
Adam Back, a pioneer in Bitcoin development, and Samson Mow, a key player in the El Salvador Bitcoin bond initiative, delve into the groundbreaking Bitcoin bond in El Salvador. They discuss how the bond ties to citizenship and offers unique investment perks. Listeners will learn about expected returns, regulation challenges, and why this bond might appeal over direct Bitcoin ownership. They also explore the ambitious Bitcoin City project and the innovative financial landscape shaping El Salvador's economy.
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El Salvador Bond Announcement
- Samson Mow's presence in El Salvador with the president generated excitement.
- This followed previous discussions about Blockstream Mining Note, a debt backed by hashing power.
El Salvador's Win
- El Salvador benefits by raising capital without IMF/World Bank involvement, leveraging blockchain tech.
- This reduces their cost of capital and gives them all invested funds, unlike traditional bond issuances.
Long-term Gains from Mining
- After the 10-year bond period, El Salvador retains mining infrastructure and hardware.
- They will have mined Bitcoin and potentially built more volcano mines, benefiting from free geothermal energy.