🚀Bitfinex Securities' ambitious Hilton hotel venture in El Salvador hit a snag, raising only $342K of the $500K required to proceed. That's just 5% of the $6.25M they aimed for. 🤦♂️ But hey, every cloud has a silver lining. They're refunding all investors! 💰
🏨The funds were meant for a swanky Hampton by Hilton hotel with 80 rooms, a pool, gym, and more. Investors had to buy the "HILSV" token on the Bitcoin layer 2 Liquid Network. A minimum investment of $1K promised a 10% coupon over 5 years. 🏊♀️🏋️♀️
🇸🇻El Salvador, the Bitcoin pioneer, had granted Bitfinex a digital asset service provider license as part of its strategy to tokenize real-world assets. Despite the setback, the country continues to innovate, with plans for Bitcoin-friendly investment banks. 🏦
💬What do you think about this venture? Is it a bump in the road or a sign of things to come? Share your thoughts below! #DeFi #Web3 #Technology #Bitfinex #ElSalvador #Bitcoin