New Hampshire, USA Plans to Issue $100 Million Bitcoin-Backed Municipal Bond, Moody's Rates Ba2

BlockBeats News, April 1st, according to Bloomberg, the Business Finance Authority of the U.S. state of New Hampshire plans to issue municipal bonds backed by Bitcoin, with a total size of approximately $100 million. The product has received a Ba2 rating from Moody’s Investors Service (two notches below investment grade). The bond’s principal and interest will be funded by the proceeds from Bitcoin-backed assets, providing additional returns when the price of Bitcoin rises. The bond also includes price-triggered liquidation clauses to safeguard payments; the associated debt is not backed by the state government’s credit or tax revenue.