Salvadoran bonds are registering 70% returns this year as investors increase their confidence in the Central American nation. El Salvador was the first country in the world to make Bitcoin legal tender in September 2021, adopting Bitcoin (BTC) as the national currency alongside the U.S. dollar (USD).
Salvadoran Bonds Register Returns
El Salvador global bonds have registered 70% returns this year. According to Bloomberg, Nayib Bukele, the president of the country, has shown willingness to pay its sovereign debt. The results shown by Salvadoran bonds are among the best from emerging markets.
One of the things that is worth taking into consideration is linked to the fact that several investors that did not trust the Salvadoran government back in 2021 or 2022, seem to be entering the market now.
El Salvador became one of the countries in the world to support Bitcoin (BTC) expansion. After making Bitcoin a legal tender in 2021, the U.S. dollar (USD) can be used alongside Bitcoin, the largest cryptocurrency in the market.
Thanks to Bitcoin’s adoption as a legal tender, there has been an increase in the number of tourists. As per Nayib Bukele, the country’s tourism increased by 95%. Now, thanks to the decision to adopt Bitcoin, bonds have outperformed other emerging market competitors at a moment in which financial markets are trading sideways.