On November 21, President Nayib Bukele of El Salvador of Central America announced that the country plans to build the world’s first “Bitcoin City” to attract foreign investment. In September of this year, El Salvador officially used Bitcoin as the national legal tender alongside the U.S. dollar.
Booker said that “Bitcoin City” will use volcanic geothermal energy as energy and will not levy any taxes except value-added tax. In addition, El Salvador will issue the world’s first Bitcoin sovereign bond, in which ordinary funds will be converted into Bitcoin, and the other half will be used for the construction of “Bitcoin City”.
According to the official Twitter of the President of El Salvador, the world’s first “Bitcoin City” is located in two cities in the country-La Union and Conchagua, the capital of the province of La Union. )between.
The city of Conchagua is located in the territory with an advection volcano of the same name (Volcano Conchagua), located in the southeast of El Salvador. There are active fumarole areas on the two main peaks of the volcano, but there is no confirmed eruption history.