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El-Salvador Will Build The First-Ever City Based on Bitcoin & It’ll Be Powered by a Volcano

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President Nayib Bukele (source: Reuters)

El Salvador, which apparently is the only country where bitcoin is a legal tender, is going to build an entire city based on the largest cryptocurrency – bitcoin.

According to TIME, the country’s leader, President Nayib Bukele announced yesterday (Nov 21), that his government will build an oceanside “Bitcoin City” at the base of a volcano, located along the Gulf of Fonseca.

The plan is to build a power plant by the volcano to provide energy for both the city and bitcoin mining.

In a rock concert-like atmosphere full of bitcoin enthusiasts, Bukele said that it will be a full-fledged metropolis with residential and commercial areas, restaurants, an airport as well as a port and rail service.

The city will be laid out in a circle (like a coin) and in the city centre will be a plaza that will be host to a huge bitcoin symbol.

President Nayib Bukele (source: Reuters)

It will have no income,…

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