El Salvador will build Bitcoin city
El Salvador is well ahead in the world with bitcoin. El Salvador was the first country to legalize the first bitcoin transaction. This time the country has announced to make an entire city as 'Bitcoin city'. News Reuters.
Bitcoin Week was recently celebrated in El Salvador to popularize Bitcoin. On the last day of the campaign, the country's president, Nayib Bukele, announced the creation of the Bitcoin city.
According to Bukele, the initial funding for Bitcoin City will come through Bitcoin bonds. There will be no tax except VAT. And the city's electricity needs will be met by volcanic eruptions.
He called on the people to invest in the city and make money as they wish.
Plans are afoot to build the proposed town east of El Salvador. Last September, Bitcoin was the first country in the world to start trading Bitcoin as a legal tender. And in this case, President Nayib Bukele has played a leading role.
