There is a lot of talk about volcano bonds again recently.

Who doesn't want to pay $100 and receive a fixed amount of BTC every year for X years + receive todays BTC back after X years at tomorrow's value?

The issue is the other side of that trade...

If a country borrowed 1 BTC today to cover $30k with of costs, but was required to pay .05 BTC every year for 10 years, then required to pay back the 1 BTC.

If BTC goes higher in dollar terms, it would bankrupt a country...