Skip to main content

Posts

Showing posts from January, 2022

Bitcoin City, the "crypto-oriented" urban dream of El Salvador

With an area of 21,041 km2 in area and around 6.5 million inhabitants, El Salvador is one of the smallest and least populated countries in Latin America. However, over the past few months, this Central American nation has made headlines in the world press due to its decision to implement Bitcoin as legal tender in the country. This venture, promoted by President Nayib Bukele, was followed by a bolder proposal that goes beyond the strictly financial sphere. On 20 November 2021, in a massive event, the Salvadoran president announced the creation of "Bitcoin City", a new urban development planned from scratch and whose economy will be mainly oriented towards cryptocurrency mining and financial services. Bitcoin Beach in El Salvador. Source Bitcoin City will be located at the foot of the Conchagua volcano, 180 km from the capital San Salvador. This location is not fortuitous, as it is planned to take advantage of the geothermal energy produced by the volcano, which will cover the