Morgan Stanley advises investors to buy El Salvador’s Eurobond

Morgan Stanley, one of the largest banking giants, has advised investors to buy troubled El Salvador’s Eurobonds. El Salvador’s Bitcoin plans started in September last year after the country approved using Bitcoin as legal tender. However, with Bitcoin falling by around 70% from its all-time highs, the country has not had much success with its plans.

Morgan Stanley advises investors to buy El Salvador’s BTC bonds

The global head of emerging markets sovereign credit strategy at Morgan Stanley, Simon Waever, published an investor note on Tuesday saying that El Salvador’s bonds had been affected by the market conditions. However, the country had a better financial position than its peers.

According to Bloomberg, the investor note said that the markets were cashing in on the possibility that El Salvador would default on its debts. According to Waever, El Salvador’s debt should not go lower than $0.437 even if the country defaulted on its obligations.

Buy Ripple Now

Your capital is at risk.

The note further looked into El Salvador’s ability to repay its obligations within the next year. It said the country could meet its debt obligations within the next year because it had a primary surplus. Moreover, it had a small maturity period compared to other countries like Argentina, Ukraine, and Egypt facing financial distress.

El Salvador’s Bitcoin plans

El Salvador approved Bitcoin as legal tender in September last year. Shortly after passing the Bitcoin law, Bitcoin entered a strong bull market, reaching an all-time high of $69,000. The country became the first to approve Bitcoin as legal tender, and its president, Nayib Bukele, has been announcing new initiatives tied to Bitcoin.

After Bitcoin rallied, El Salvador used the profits for projects such as building a Bitcoin school to educate people about Bitcoin and a veterinary clinic. However, Bitcoin has now dropped by 70% from its all-time high. The country has bought around $56 million worth of Bitcoin since September last year. The country has lost a huge part of its investment after crypto entered a bear market.

Before the bear market settled in, El Salvador had announced plans to issue a Bitcoin volcanic bond. The Bitcoin bond was much hyped by the Bitcoin community, alongside the country’s plans to build a Bitcoin city. However, this bond has been delayed significantly, and there is no specified date for when the launch will happen.

Read more:

  • Will El Salvador Survive the Bitcoin Crash?
  • Morgan Stanley says crypto venture capital could drop by half this year
  • Morgan Stanley Dennis Lynch Likens Bitcoin to Kenny from South Park

Battle Infinity – New Crypto Presale

Our Rating

  • Presale Until October 2022 – 16500 BNB Hard Cap
  • First Fantasy Sports Metaverse Game
  • Play to Earn Utility – IBAT Token
  • Powered By Unreal Engine
  • CoinSniper Verified, Solid Proof Audited
  • Roadmap & Whitepaper at

Battle Infinity

Visit Site