Bitcoin-Backed Muni Bond Clears Hurdle With Moody’s Rating

The riskiest asset class is converging with one of the safest in a first-of-its-kind financial product: A Bitcoin-backed municipal bond.

The New Hampshire Business Finance Authority’s plans for such a security — which they say is unprecedented — earned a Ba2 rating from Moody’s Investors Service on Tuesday. That’s the second-highest level of speculative grade.