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SAN SALVADOR, Nov 20 — El Salvador plans to build the world’s first “Bitcoin City” which will be funded initially by bitcoin bonds, President Nayib Bukele said today, doubling down on the Central American country’s bet on the crypto currency. Speaking at an event to mark the close of a...
DNA Explainer: How THIS country plans to build world's first 'Bitcoin City' - The 'Bitcoin City' which will be located along the Gulf of Fonseca near a volcano, will be funded with the issuance of a USD 1 billion Bitcoin Bond.
El Salvador's President Nayib Bukele announced plans to build a bitcoin city called 'Bitcoin City' in a circular form at the base of the Conchagua Volcano, using its energy to mine the cryptocurrency.
El Salvador's government wants to build a 'Bitcoin City', city is shaped like a coin, and it would be built next to a volcano.
A volcano-powered Bitcoin City will be partially funded by $1B in government-issued, dollar-denominated, bitcoin bonds via Blockstream’s Liquid Network, a sidechain of the Bitcoin Mainnet.