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The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/el-salvadors-bitcoin-bond-market-attracts-wall-street-skeptics-including-jpmorgan-and-eaton-vance/">El-Salvador’s Bitcoin-Bond Market Attracts Wall Street Skeptics Including JPMorgan and Eaton Vance</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
In 2021, El Salvador made history as the first country to ditch its currency printing machines for Bitcoin (BTC) as the legal tender. As a result, the sitting President Nayib Bukele has attracted both positive and negative sentiments from the global community. On the negative side, big money lenders including the IMF worried that the use of Bitcoin would destabilize the Latin American economy, which has struggled over the past decades. 
<h2 id="wall-street-skeptics-winks-at-el-salvador-bitcoin-bond-market" data-name="wall-street-skeptics-winks-at-el-salvador-bitcoin-bond-market" class="wp-block-heading">Wall Street Skeptics Winks at El Salvador Bitcoin Bond Market</h2> 
After the El Salvador government adopted Bitcoin as a legal tender two years ago, several other initiatives have been made toward expanding the digital economy. Among them was the introduction of Bitcoin Bonds that were meant to fund government projects. 
According to <a href="https://www.bnnbloomberg.ca/bitcoin-touting-bukele-s-bond-rally-draws-jpmorgan-eaton-vance-1.1959295" rel="noopener noreferrer nofollow">data provided by Bloomberg</a>, JPMorgan, Eaton Vance and PGIM, Lord Abbett &amp; Co LLC, Neuberger Berman Group LLC, and UBS Group AG have added the El Salvador Bitcoin Bonds since April 2023. 
<blockquote class="wp-block-quote"> 
 “The story continues to be positive on the fiscal accounts and Bukele has continued to be very consistent in signaling to bondholders that he’s serious about paying the debt,” said Zulfi Ali, a portfolio manager at PGIM. 
</blockquote> 
As a result, more institutional investors are increasing their appetite for El Salvador Bitcoin Bonds amid the mainstream adoption of digital assets. Moreover, the El Salvador government has hired the former International Monetary Fund veteran as an adviser and is repaying $800 million of Bitcoin bonds.&nbsp; 
“Although we missed a significant share of the rally, we still think there’s value across El Salvador’s curve,” JPMorgan research strategists Ben Ramsey, Nishant Poojary, and Gorka Lalaguna wrote in a July note, moving overweight on the debt. “There’s room for this credit to keep outperforming.”

El-Salvador’s Bitcoin-Bond Market Attracts Wall Street Skeptics Including JPMorgan and Eaton Vance

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