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El Salvador president plans 'Bitcoin City' financed by crypto bonds
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moneycontrol.comPresident Nayib Bukele said El Salvador plans to build the world's first "Bitcoin City", powered by a volcano and financed by cryptocurrency bonds.
Bitcoin City "is gonna include everything: residential areas, commercial areas, services, museums, entertainment... airport, port, rail," Bukele said at the Latin American Bitcoin and Blockchain Conference on Saturday.
El Salvador, which has used the US dollar for two decades, was the first country in the world to legalize bitcoin as legal tender.
Bukele said the Conchagua volcano "will power the whole city and will also power the mining."
Bitcoin mining is the process by which new bitcoin is created using computers that solve complex mathematical problems -- a process which demands huge amounts of
Read more on moneycontrol.comAbout this in other media
Mainstream Analysts Pour Scorn on El Salvador’s Financial Plans and Bitcoin Intentions cryptonews.com /3 years ago
Thailand May Soon Accept Bitcoin, Ether, Other Crypto For Travel ndtv.com /3 years ago
El Salvador celebrates Black Friday, buys 100 BTC for 20% off cointelegraph.com /3 years ago
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