El Salvador Announces World’s First Bitcoin City, Backed By $1B Bitcoin Bonds

El Salvador Announces World’s First Bitcoin City, Backed By $1B Bitcoin Bonds


El Salvador is currently the only country in which Bitcoin (BTC) is legal tender. This move has witnessed many developments, as well as some pushback. Amid protests, technical glitches, and inevitable market volatility, El Salvador continues to drive BTC adoption.

Related Reading | There Are More People Using Bitcoin Wallets Than Bank Accounts, Says El Salvador President

In its latest Bitcoin adoption move, the Central American country plans to build a city based on the world’s largest cryptocurrency. President Nayib Bukele announced the Bitcoin City initiative at El Salvador’s Bitcoin Week conference on Saturday night. This conference is a celebration of Bitcoin’s mainstream adoption in the country.

In partnership with crypto firms Blockstream and BitFinex, Bukele plans to issue $1 billion in tokenized USD-denominated 10-year bonds to fund this

Trending: WATCH: Republican Voter In Florida Congressional Race Was Told By Poll Worker That Republicans Could Not Vote

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend