Post
Topic
Board Bitcoin Discussion
Re: Bitcoin City Rising in El Salvador
by
SiNeReiNZzz
on 22/11/2021, 01:15:07 UTC


As what I have been expecting, the leadership of El Salvador is going to fully exploit all avenues they can have with Bitcoin. Under the current President Nayib Bukele, Bitcoin became the legal tender of the country, the first one to do so. And now they are planning to establish a Bitcoin City where crypto-related businesses will be encouraged to do business and base their operations, presumably for the global market. I am sure this is just the beginning on how the country can be helped by Bitcoin and cryptocurrency...and it would be exciting to watch how this can positively pushing up its economy.

I consider El Salvador to be the great Bitcoin experiment and its success or failure can be affecting how other countries big and small will be viewing Bitcoin and whether they too should be following the lead of this country.

There is already a thread about this...  Wink

El Salvador have continued to take the lead in cryptocurrency adoption, first the country announced bitcoin as a legal tender some months ago and the latest is the official opening of a bitcoin city which will serve as a free trade zone that will house top exchanges and bitcoin mining farms. The president announced this project which is backed with a 1 billion dollars worth of bitcoin as a bond.
https://cointelegraph.com/news/el-salvador-to-inaugurate-bitcoin-city-backed-by-1b-bitcoin-bonds