"The proposed $100 million issuance, structured by the New Hampshire Business Finance Authority (BFA), earned a Ba2 rating - two notches below investment grade, according to Bloomberg reporting."
"If completed, the deal would represent the first municipal bond backed by bitcoin collateral, opening a potential new pathway for institutional capital to access the asset class through regulated fixed-income markets."
"Critically, the bonds carry no backing from taxpayers. 'No public funds of the State of New Hampshire or any political subdivision thereof may be used to pay amounts under the rated bonds,' Moody's noted in its report."
"Governor Kelly Ayotte backed the initiative at the time, framing it as a way to attract investment without exposing taxpayers to risk."
A $100 million municipal bond backed by bitcoin is close to issuance after receiving a Ba2 rating from Moody's. This bond, structured by the New Hampshire Business Finance Authority, would be the first of its kind, allowing institutional capital to access bitcoin through regulated markets. Payments will be funded by bitcoin collateral from CleanSpark, with protections against price drops. The bonds do not involve taxpayer funds, ensuring no public money is at risk. Key players include Wave Digital Assets and BitGo, with support from Governor Kelly Ayotte.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]