Andrés Engler, Kevin Reynolds report that President Nayib Bukele told a raucous crowd in a Saturday night presentation at Bitcoin Week in El Salvador that his country is going to build an entire city based on the largest cryptocurrency by market value.
“Bitcoin City” will be located along the Gulf of Fonseca near a volcano. The government plans on locating a power plant by the volcano to provide energy for both the city and bitcoin mining.
The president said that the government will issue a 1 Billon 'Bitcoin Fund' and 500 million will be used to build Bitcoin city's energy and bitcoin mining infrastructure and $500 million to buy even more bitcoin.
Source credit and full story - https://www.coindesk.com/business/2021/11/21/el-salvador-to-create-bitcoin-city-use-500m-of-planned-1b-bond-offering-to-buy-more-crypto/
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