El Salvador — the first country in the world to adopt Bitcoin as legal tender in September — plans on building the world’s first “Bitcoin City,” an entire city to be funded by Bitcoin bonds and powered by geothermal energy from one of the country’s many volcanoes, according to El Salvador’s official presidential Twitter page.
- Speaking at a weeklong event promoting Bitcoin in the country, President Nayib Bukele said the oceanside city will help fuel investment in El Salvador and will feature an airport, residential and commons areas with a central plaza designed to resemble the Bitcoin symbol from the air.
- “Invest here and make all the money you want,” said Bukele, likening the plan to cities founded by Alexander the Great. “If you want Bitcoin to spread over the world, we should build some Alexandrias.” Bukele caused controversy recently when he apparently jokingly called himself the “dictator” of El Salvador on Twitter. Either way, the stunt was not well received in the country where there is growing dissatisfaction with Bukele’s apparent consolidation of political power.
