El Salvador plans to build the world’s first “Bitcoin City”, funded initially by Bitcoin-backed bonds, President Nayib Bukele says, doubling down on his bet to harness the cryptocurrency to fuel investment in the Central American country.
Speaking at an event closing a week-long promotion of Bitcoin in El Salvador, Bukele said the city planned in the eastern region of La Union would get geothermal power from a volcano and not levy any taxes except for value-added tax (VAT).
El Salvador to build first ‘Bitcoin City’ backed by BTC bonds | Crypto News | Al Jazeera
At the behest of President Nayib Bukele, pictured, El Salvador in September became the first country in the world to adopt Bitcoin as legal tender [Jose Cabezas/Reuters]
