ChainCatcher news, according to Bloomberg, as Bitcoin rises and the results of the U.S. elections are announced, Salvadoran President Nayib Bukele has proposed to repurchase dollar bonds for the third time this year. According to a statement released on Tuesday, the government proposed to repurchase a series of notes maturing from 2027 to 2034. The total outstanding principal of these securities exceeds $2.5 billion.The statement did not specify how the transaction would be paid for. However, a knowledgeable source indicated that the debt repurchase depends on new financing, the details of which have not been disclosed as this information is not yet public. Data shows that since Trump won the U.S. presidential election last week, El Salvador's debt yield has reached 4.7%, outperforming all emerging market countries except Ukraine.Investors have long believed that Trump's second term would help Bukele gain support for International Monetary Fund loans. New York-based economist Katrina Butt stated, "The market sees El Salvador as a 'Trump deal,' with expectations that a closer personal relationship between Bukele and Trump will benefit El Salvador, and they are unlikely to have enough cash for such a repurchase, likely needing to enter the market for financing the transaction."

ChainCatcher news, according to Bitcoin Magazine, Salvadoran President Nayib Bukele donated 2 bitcoins worth $133,000 to help Honduras raise funds to build 1,000 schools.

ChainCatcher news, Salvadoran President Nayib Bukele met with Argentine Vice President Victoria Villarruel during his official visit to Argentina to discuss cryptocurrency and El Salvador's experience with Bitcoin.Argentine senators and government officials are very interested in Bitcoin. During his official visit to Argentina, Salvadoran President Nayib Bukele held meetings with a group of national senators and the Argentine Vice President to discuss the topic of cryptocurrency.Although the discussions were private, a video prior to the meeting showed Argentine Vice President Victoria Villarruel asking about El Salvador's experience in the Bitcoin field, as El Salvador has adopted Bitcoin as legal tender for several years.Villarruel stated, "I personally want to take a few minutes to talk to you about Bitcoin, which is something I am very interested in."Additionally, Villarruel expressed interest in the so-called volcano bonds, which have been on hold for several years. Bukele proposed these bonds as part of the financing plan for Bitcoin City, a Bitcoin-centric metropolis announced for construction in 2021, but has yet to be built.

ChainCatcher news, Salvadoran President Nayib Bukele revealed part of his plan aimed at promoting the Salvadoran economy, which is one of his biggest goals for his second term. In a speech commemorating the national independence, Bukele stated that next year's budget will be self-funded and that no debt will be issued to maintain government operations.Nayib Bukele stated that El Salvador will not even pay interest on its debt during this period by issuing more debt, emphasizing that all payments will be made using self-funding.

ChainCatcher news, according to Decrypt, Salvadoran President Nayib Bukele now admits that his Bitcoin experiment has not gone entirely as planned.Nayib Bukele stated: "Bitcoin has not yet reached the widespread adoption we expected. Many Salvadorans are using it, and most large businesses in El Salvador accept it. You can pay with Bitcoin at McDonald's, supermarkets, or hotels. But it has not reached the level of adoption we anticipated. The positive side is that it is voluntary; we have never forced anyone to adopt it. We present it as an option, and those who choose to use it have benefited from the rise of Bitcoin."

ChainCatcher news, El Salvador's pro-Bitcoin President Nayib Bukele appears on the cover of Time magazine.

ChainCatcher news, the inauguration ceremony of President Nayib Bukele was held at Gerardo Barrios Square in El Salvador, marking the beginning of his second term.Five years ago today, Nayib Bukele was sworn in as the President of El Salvador, becoming the first Bitcoin president. On September 7, 2021, Bitcoin officially became legal tender in El Salvador.

ChainCatcher news, Ark Invest CEO Cathie Wood posted on social media, "President Nayib Bukele's determination to turn El Salvador into an oasis for the Bitcoin and artificial intelligence communities—two of the most significant economic and technological revolutions in history—is why I believe that El Salvador's actual GDP could grow tenfold in the next five years."

ChainCatcher news, El Salvador's President Nayib Bukele stated that El Salvador has recently passed a new law eliminating the income tax on international investments and remittances entering the country (reducing the tax rate from 30% to 0%). Since El Salvador announced Bitcoin as legal tender and invested public funds into Bitcoin and Bitcoin mining, he has become an important figure in the crypto ecosystem.

ChainCatcher news, Bitcoin Magazine tweeted that the President of El Salvador stated: "We have seen the benefits of adopting Bitcoin. Tourism has grown by 95%, and we have received a lot of private investment." (source link)

ChainCatcher news, El Salvador's President Nayib Bukele posted on social media that Western media, including the New York Times, previously reported that El Salvador would face a debt default in January 2023 due to its "Bitcoin bet," but that is not the case; El Salvador has fully paid its $800 million debt (including interest). "When the lies of the New York Times are exposed, they go into silent mode." (source link)

ChainCatcher message, Zhao Changpeng stated that he just exchanged information with the President of El Salvador, Nayib, who said: "We have no Bitcoin in FTX, and we have never had any business dealings with them." (source link)

Chain Catcher News, Salvadoran President Nayib Bukele stated that he plans to run for another five-year presidential term in 2024. It is reported that in September 2021, the Supreme Court of El Salvador made a ruling that the country's president can serve two consecutive terms. In the same month, Bitcoin officially became legal tender in El Salvador.Earlier news, earlier today, the rating agency Fitch downgraded El Salvador's rating and removed it from the Rating Watch (UCO) list. (Source link)