HomeNewsEl Salvador plans to build world’s first ‘Bitcoin City’ backed by bitcoin bonds
El Salvador plans to build world’s first ‘Bitcoin City’ backed by bitcoin bonds
El Salvador’s President Nayib Bukele speaks during a ceremony to lay the first stone of Chivo Vet, a veterinary hospital financed with the gains El Salvador has obtained from its bitcoin operations, in Antiguo Cuscatlan, El Salvador November 1, 2021.
Speaking alongside Bukele, Samson Mow, chief strategy officer of blockchain technology provider Blockstream, said El Salvador would initially issue a $1 billion bond backed by bitcoin to begin raising funds for the planned city.
El Salvador in September became the first country in the world to adopt bitcoin as legal tender.