El Salvador says Ukraine is factor in bitcoin-backed bond timing

“We believe that between March 15 and 20 is the right timing, we have the tools almost finished. But the international context will tell us … I didn’t expect the war in Ukraine,” Zelaya told a local TV channel. The bond has faced headwinds as intensifying volatility rocks the cryptocurrency, with Russia’s invasion of Ukraine adding to the uncertainty.

“We’re still finishing some details, almost everything is ready, the thing is there is also a timing issue,” Zelaya said. Bitcoin, hit a record high above $67,500 in early November, but lost almost half its value by Jan. 22.