11/22/2021- 9:57 a.m.
World’s First ‘Bitcoin City’ to be Coined
El Salvador has announced plans for a groundbreaking “Bitcoin City” – built with crypto-backed bonds. President Bukele hopes it will fuel investment in the country that’s embraced the digital currency.
Set to appear near the Conchagua volcano in the southeast, it will reportedly have residential and commercial areas, services, entertainment, restaurants, and even an airport.
It’s also attempting to go green with geothermal energy from the volcano and not levy any taxes, except for VAT. It’s expected to cost around $17.2 Billion (300,000 bitcoins)
