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El Salvador To Build World's 1st "Bitcoin City" With Money From $1 Billion Bitcoin-Backed Bond
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ndtv.comEl Salvador plans to build the world's first "Bitcoin City" with money from a $1 billion bitcoin-backed bond the country's President Nayib Bukele said on Saturday.
Here is what we know about the proposed bond and some of the details that still need to be filled in.
What we know
Bukele said El Salvador planned to issue the bond in 2022, suggesting it could be as soon as in 60 days time.
Half of the $1 billion sum would be converted to bitcoin and the other half used for infrastructure and bitcoin mining.
Samson Mow, chief strategy officer of blockchain technology company Blockstream who was on stage with Bukele said that the 'volcano bonds' - the new city will be powered with geothermal energy from a nearby volcano - will be U.S.
Read more on ndtv.comAbout this in other media
The bigger picture: What does El Salvador’s Bitcoin city mean for the global crypto market? economictimes.indiatimes.com /3 years ago
Paraguayan Senate to Debate Taking Bitcoin Mining ‘Out of the Grey Area’ cryptonews.com /3 years ago
Mainstream Analysts Pour Scorn on El Salvador’s Financial Plans and Bitcoin Intentions cryptonews.com /3 years ago
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