Bitcoin-friendly El Salvador sees bond returns soar to 70% in 2023
El Salvador paid $800 million in debt at the start of the year before the maturing period, raising the confidence of investors, as President Bukele says "told you so". El Salvador, which adopted Bitcoin as legal tender in 2021, has seen its dollar bond outperform the majority of the emerging markets with a 70% return in 2023. The massive rally of the bond has now drawn interest from several institutional giants like JP Morgan, Eaton Vance and PGIM Fixed, prompting President Nayib Bukele to say, “I told you so.” Apart from the institutional giants, the likes of Lord Abbett & Co LLC, Neuberger Berman Group LLC and UBS Group AG have also added debt security since April, reported Bloomberg. Paolo Ardoino, chief technology officer of Bitfinex, told Cointelegraph that the performance of El Salvador bonds is a clear signal that investors are supportive of the financial policies of the El Salvador government and demonstrates the renewed interest in investing in the El Salvad...
