El Salvador Announces World’s First Bitcoin City, Backed By $1B Bitcoin Bonds
El Salvador is currently the only country in which Bitcoin (BTC) is legal tender. This move has witnessed many developments, as well as some pushback. Amid protests, technical glitches, and inevitable market volatility, El Salvador continues to drive BTC adoption. Related Reading | There Are More People Using Bitcoin Wallets Than Bank Accounts, Says El Salvador President In its latest Bitcoin adoption move, the Central American country plans to build a city based on the world’s largest cryptocurrency. President Nayib Bukele announced the Bitcoin City initiative at El Salvador’s....
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El Salvador is preparing to introduce 20 bills to provide a legal framework for its upcoming bitcoin bonds. The funds raised will be used to build infrastructure for Bitcoin City and buy more bitcoin, the Salvadoran government explained. El Salvador Drafting Legal Framework for Bitcoin Bonds El Salvador’s finance minister, Alejandro Zelaya, said in an interview on local television Tuesday that his government will send about 20 bills to Congress concerning the country’s bitcoin bonds. The bills will cover financial markets and investment in securities to provide a legal....
The development of Bitcoin City will see the proactive involvement of prominent crypto companies including cryptocurrency exchange Bitfinex and Adam Back’s Blockstream. El Salvador continues to lead the Bitcoin (BTC) adoption drive as President Nayib Bukele announces the launch of Bitcoin City, which will be funded initially by $1 billion Bitcoin bonds. The initiative was first announced by Bukele at El Salvador’s Bitcoin Week conference, which sought to celebrate Bitcoin’s mainstream adoption in the country and increase citizen participation."Pensé que teníamos que dar un anuncio grande....
MicroStrategy’s Michael Saylor has recently shared his thoughts around bitcoin-backed bonds which have been gaining popularity after El Salvador announced that it would be launching the first one. Saylor who is a staunch advocate of BTC explained where he saw the market right now in terms of bitcoin bonds and whether or not the crypto […]
Bukele also envisions an oncoming explosive growth for El Salvador’s two in-house BTC-based initiatives — Bitcoin City and Volcano bonds. On Jan 2, El Salvador President Nayib Bukele shared five bullish predictions on Bitcoin’s (BTC) performance for the year 2022. Last year, El Salvador became the first country to adopt Bitcoin as legal tender under Bukele’s presidency as a countermeasure to the growing inflation in the country. Since legalization, the president acquired 1,370 BTC for the country’s reserve and reinvested its unrealized gains into new infrastructure projects including a....
El Salvador seems to be looking to a future fully integrated with bitcoin. The country which had made history in September as the first sovereign nation to make bitcoin a legal tender has taken another step forward in its adoption of the cryptocurrency. After investing millions of dollars into BTC, El Salvador has announced the […]