When cryptocurrency is life, then you gotta live where you can thrive in that cryptocurrency life. Imagine being so invested (pun much intended) in crypto, that you design a city dedicated to crypto. This is a reality for El Salvador. Bitcoin City, El Salvador is currently in the works.
In November, Salvadorian President Nayib Bukele announced his plans to fund an entire town with bitcoin. He hopes this will bring good fortune to the country. Specifically, his goal is to bring people in and get the crypto business booming. In other words, BitcoinCity will be the Wall Street equivalent of crypto. And, as the name suggests, Bitcoin will be the official method of transactions. Yes, citizens will likely have their own Bitcoin credit cards. Bukele noted that the city will have a circle-shaped design, with a circular plaza in the middle. So, from the sky, it will look like the Bitcoin symbol.
On another note, it will have its own sustainable power source- a nearby volcano will provide thermal energy. Then, the city will harness the thermal energy for electricity.
Does “the city of crypto” concept sound familiar to you? That’s because the Mayans had their city of gold, and the Greeks decked out everything in marble and bronze. The estimated cost to build the city will equal out to 1 billion US dollars. Fiscal officials expect to reach financial stabilization 5 years in.
Read the official press release here.