World’s first ‘Bitcoin City’ in El Salvador

El Salvador plans to build the world's first "Bitcoin City", funded initially by bitcoin-backed bonds, President Nayib Bukele said on Saturday, doubling down on his bet to harness the cryptocurrency to fuel investment in the Central American country.

President 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," President Bukele said at the Latin American Bitcoin and Blockchain Conference on Saturday.

El Salvador, which has used the US dollar for two decades is also the first country in the world to legalize bitcoin as legal tender.

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