Altcoins News
By Jean-Luc Maracon
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State Officials Push Forward. Governor Chris Sununu doesn't seem worried about the rating.
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Market Reaction Mixed. Some investors aren't scared off by the Ba2 rating. Granite State Capital, a local investment…
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Moody's slapped a Ba2 rating on New Hampshire's Bitcoin-backed bond April 1st. Not great news.
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The rating agency basically said Bitcoin's wild price swings make this thing pretty risky compared to regular bonds.
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Bitcoin's been nuts lately. Trading between $25,000 and $45,000 over six months.
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Governor Chris Sununu doesn't seem worried about the rating. "We are taking bold steps to integrate digital assets into our economy," he said at a March 30th press conference.
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The state released a report March 25th laying out the risks and benefits of digital assets. Pretty much said Bitcoin can make you rich or broke, sometimes in the same week.
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And there's still no word from the SEC about cryptocurrency-backed bonds. Radio silence.
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Some investors aren't scared off by the Ba2 rating. Granite State Capital, a local investment firm, said the bond could offer "unique opportunities for those willing to accept…
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Financial analyst Laura Chen from Digital Asset Insights wasn't impressed. She argued March 31st that the move is "innovative" but poses "substantial risks due to Bitcoin's lack…
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European venture capitalists expressed interest March 29th, calling the potential returns attractive despite the risks.
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Tax questions remain murky. New Hampshire's Department of Revenue Administration hasn't released guidelines on how bond earnings will be taxed.
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State officials met March 28th to discuss hedging strategies. They're looking at derivatives to protect against Bitcoin price drops.
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The bond still doesn't have a launch date. Officials are working through regulatory approvals and trying to line up underwriters.
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