Summary: El Salvador President Nayib Bukele announces the launch of Bitcoin City, which will be funded initially by $1 billion Bitcoin bonds. He said, “In Bitcoin City we will have digital and technological education. Geothermal energy for the entire city and efficient and sustainable public transport”. The development of Bitcoin City will see the involvement of ...

El Salvador President Nayib Bukele announces the launch of Bitcoin City, which will be funded initially by $1 billion Bitcoin bonds. He said, “In Bitcoin City we will have digital and technological education. Geothermal energy for the entire city and efficient and sustainable public transport”.

The development of Bitcoin City will see the involvement of prominent crypto companies including cryptocurrency exchange Bitfinex and Adam Back’s Blockstream. According to Bitfinex CTO Bitfinex Paolo Ardoino, the exchange will support El Salvador’s Bitcoin City initiative by launching a securities platform to hold the Bitcoin bonds. 

Ardoino said :“[The platform] will soon be home to many local and foreign digital assets offerings developing new digital asset regulation for the country! El Salvador, Bitfinex and Blockstream are making history together.”

By Amy Liu