• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, May 22, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto Bitcoin

El Salvador plans to build a Bitcoin city by investing $500M

by Reshab Agarwal
November 23, 2021
in Bitcoin, Crypto, News, Trending
Reading Time: 2 mins read
0
Image Credits: Twitter/Nayibbukele
TwitterWhatsappLinkedin

El Salvador is the first country in the world to make Bitcoin a legal tender, and now the country plans to build a city for it. The Bitcoin city by El Salvador will be funded using a $1B tokenized bond developed by Blockstream and processed by Bitfinex. El Salvador plans to invest $500M from the same in building the city and the other half to buy more Bitcoins. This will push them even more forward in terms of innovation and adoption of crypto.

You might also like

Epic Games’ Fortnite Makes Triumphant Return to Apple’s App Store After Nearly Five-Year Ban

Paramount Faces Political Firestorm Over Possible Trump Lawsuit Settlement

Intel Considers Selling Network and Edge Units Amid Strategic Overhaul Under New CEO

The Bitcoin city will be wonderful

El Salvador is planning to build the Bitcoin city near the volcano at the Gulf of Fonseca. This is because the power generated from the volcano can be used to mine BTC and power the city. It will be renewable energy and will put the wasted energy of the volcano to good use. The country’s president said that the city will be a metropolis and will have both residential and commercial buildings and areas. It will also have an airport, port, lots of restaurants and rail service.

El Salvador plans to build a Bitcoin city
Image Source: BuyUCoin

Another exciting thing about the city would be the Bitcoin symbol that will be built at its center. El Salvador also said that they plan to build the city in a circle, just like a coin. The Bitcoin city will also be a dream place for residents as it won’t have any income, property, capital gain, or payroll taxes. So, living in this city will be totally free. I think that the tax-free regime itself is going to attract a lot of people and businesses to the area.

El Salvador will stack more Bitcoin

Apart from building the Bitcoin city, El Salvador also plans to use the $500M from the rest of tokenized bonds to buy Bitcoin. Considering the parabolic price increase we are expecting in the next few years, this is going to be a massive investment for the country. At the same time, the purchase within itself will contribute to the price growth of Bitcoin in some way.


If given a chance, will it interest you to live in the Bitcoin city that El Salvador plans to build? And if yes, what will be the top 2 reasons for that? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

Also Read: Bitcoin’s drop to $56,500 might have been the bottom of this correction.

Tags: #Bitcoin_City#El_Salvador
Tweet54SendShare15
Previous Post

Santiment Analytics Firm: Over $1.2 Bn of stablecoins deposited to exchanges amid crypto market pullback

Next Post

You can now use Nvidia GeForce Now app on LG TVs

Reshab Agarwal

Reshab is a tech-enthusiast who likes to write about all things crypto. He is a Bitcoin bull and believes in a decentralized future of finance. Follow him on Twitter for more!

Recommended For You

Epic Games’ Fortnite Makes Triumphant Return to Apple’s App Store After Nearly Five-Year Ban

by Anochie Esther
May 22, 2025
0
Fortnite

In a twist that has been long awaited by millions of fans and closely monitored by the tech and gaming industries alike, Fortnite is finally making its comeback...

Read more

Paramount Faces Political Firestorm Over Possible Trump Lawsuit Settlement

by Harikrishnan A
May 22, 2025
0
Paramount Faces Political Firestorm Over Possible Trump Lawsuit Settlement

Three senior U.S. senators are raising red flags over media giant Paramount Global’s ongoing legal entanglement with President Donald Trump, warning that a settlement in his $20 billion...

Read more

Intel Considers Selling Network and Edge Units Amid Strategic Overhaul Under New CEO

by Harikrishnan A
May 22, 2025
0
Pentagon Halts $2.5 Billion Chip Grant to Intel,

In a significant pivot that could reshape Intel’s future, the tech giant is quietly weighing whether to sell off its network and edge computing business units. The move...

Read more
Next Post
LG TVs GeForce Now

You can now use Nvidia GeForce Now app on LG TVs

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?