Alejandro Zelaya, Treasury minister of El Salvador, explained that the conflict happening currently between Ukraine and Russia has influenced the price of bitcoin on international markets, disrupting it. Due to this disruption, Zelaya also stated that it was not feasible to issue the volcano bonds yet, which are to finance the construction of the Bitcoin City announced last year by President Nayib Bukele.
Military conflict and geopolitical unrest might be affecting the performance of the price of bitcoin in the cryptocurrency market. This is the opinion of Alejandro Zelaya, the minister of the Treasury of El Salvador, who connected these variables to delays the launch of the volcano bonds is experiencing.
With the arrival of the conflict between Russia and Ukraine, many investments in crypto became investments in companies related to the arms industry. There were transfers of investments to the pharmaceutical industry and in other cases, these went to companies that manufacture agricultural supplies.
Zelaya indicated that these bitcoins were not purchased to be sold and that there was no loss associated with the purchase without having exchanged them for other assets. He stated:
They always come out and say ‘they’ve lost,’ when we haven’t really sold the coin. If you don’t sell the coins, you keep them, you wait [until] the price goes up again.
What do you think about the statements of Treasury minister Alejandro Zelaya on the price of bitcoin and the launch delay of the volcano bonds? Tell us in the comments section below.
