Report: El Salvador State Bank Accepts 200 Bitcoin ATMs for $1.5M Loan

A state-owned bank in El Salvador has reportedly issued a loan of more than $1.5 million to a cryptocurrency company, accepting 200 Bitcoin (BTC) ATMs as collateral. The site writes that it has obtained documents proving that Banco Hipotecario de El Salvador (the Mortgage Bank of El Salvador) has signed off on loan valuing each machine at $7,760. In addition, the loan warranty period is 36 months. According to the report, the loan terms indicate that Athena Bitcoin, a company led by Eric Gravengaard that has launched dozens of BTC ATMs in El Salvador, was added as a “secured creditor or co-signer” to the loan transaction.