El Salvador Plans First ‘Bitcoin City,’ Will Raise $1 Billion With ‘Bitcoin Bond’

El Salvador Plans First ‘Bitcoin City,’ Will Raise $1 Billion With ‘Bitcoin Bond’


On Saturday, El Salvador’s President Nayib Bukele announced plans to build the world’s first “Bitcoin City.” The city will have residential and commercial areas, restaurants, entertainment venues, and an airport, and will be funded initially by bitcoin-backed bonds.

“Speaking at an event to mark the close of a week to promote bitcoin in El Salvador, Bukele said the city planned in the east of the country would get its energy supply from a volcano and would not levy any taxes except for value added tax (VAT),” reported Fox Business.

“We’ll start funding in 2022, the bonds will be available in 2022,” Bukele said.

Trending: “Sudden Deaths” Begin to Emerge in 5-11 Age Bracket After EUA Granted For Experimental COVID-19 Injections

“Invest here and make all the money you want,” Bukele told the crowd. “This is a fully ecological city that works and is energized by

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