El Salvador plans first ‘Bitcoin City’, backed by bitcoin bonds

MIZATA, El Salvador, Nov 20 (Reuters) – El Salvador plans to build the world’s first “Bitcoin City”, funded initially by bitcoin-backed bonds, President Nayib Bukele said on Saturday, doubling down on his bet to harness the crypto currency to fuel investment in the Central American country.Speaking at an event closing a week-long promotion of bitcoin in El Salvador, Bukele said the city planned in the eastern region of La Union would get geothermal power from a volcano and not levy any taxes except for value added tax (VAT).”Invest here and make all the money you want,” Bukele said in …
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