El Salvador's first tokenized debt issuance fails! BTC daily dollar-cost averaging continues.

Bitfinex launched a tokenized debt issuance in April, aiming to raise $6.25 million for the construction and development of an integrated facility at the El Salvador International Airport. However, the fundraising did not meet expectations. According to a report by Cointelegraph, Bitfinex only raised $342,000 from investors by the first deadline. As a result, Bitfinex has decided to refund investors. Nevertheless, Bitfinex hopes to restructure the issuance terms and restart the fundraising process.

Airport Construction Tokenization Debt Fundraising Fails

The first country in the world to adopt Bitcoin as legal tender, El Salvador, has been actively carrying out various construction projects with the recent surge in Bitcoin prices. The tokenization debt issuance this time is aimed at constructing and developing a comprehensive facility at the international airport in El Salvador.

The construction project involves a five-story facility covering 4,484 square meters, with 80 guest rooms, five commercial spaces, and other hotel facilities including a swimming pool, restaurant, gym, garden, and multipurpose hall. It is expected to create approximately 1,000 job opportunities during the construction phase and up to 5,000 direct and indirect job opportunities during the operational phase.

However, the fundraising situation did not meet expectations. By the first deadline, Bitfinex only raised $342,000 from investors and decided to refund investors. Bitfinex hopes to redefine new issuance conditions and restart fundraising afterwards.

El Salvador Has Purchased 5,804 Bitcoins

El Salvador has purchased a large amount of Bitcoins, with remarkable gains this year. President Nayib Bukele announced El Salvador's "national wallet" on 3/15, referring to it as the "first Bitcoin piggy bank bank." He also mentioned starting a daily investment plan from 3/16, purchasing 1 Bitcoin daily. Currently, El Salvador holds 5,804.76 Bitcoins, valued at around $321 million.

Nayib Bukele was re-elected as president this year with an overwhelming 87.7% of the votes, breaking the country's record to become the first president to be re-elected in the democratic era of El Salvador. This also allows Bitcoin to serve as legal tender for another five years. According to data from the tracking platform NAYIB BUKELE PORTFOLIO TRACKER, the cost of his Bitcoin holdings is $43,522. With the current Bitcoin price at $55,100, his unrealized profit reaches $66.68 million.