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El Salvador's president, Nayib Bukele, plans to build a Bitcoin city at the base of the Conchaga volcano. The city will be circular to represent the shape of a large coin and will be built in the south-eastern region of La Unin, President Nayib Bukele said. To fund the project, El Salvador will issue $1 billion "bitcoin bonds" in 2022, according to Samson Mow, chief strategy officer of Blockstream, a blockchain tech provider. El Salvador, which has used the US dollar for two decades, was the first country in the world to legalize bitcoin as legal tender. El Salvador's government plans to build a "Bitcoin City" at the base of Conchagua Volcano in the country's southeast in 2022, El Salvador's La Prensa Grfica newspaper reported Saturday, noting the city will be designed to harness the volcano's geothermal energy to mine cryptocurrency. El Salvador also plans to raise about $1 billion through "bitcoin bonds . The warning came one day after Salvadoran President Nayib Bukele announced his plan to build a "bitcoin city" powered by a volcano and financed by bitcoin bonds. The IMF statement came a day after President Nayib Bukele said El Salvador plans to build a "Bitcoin City" powered by a volcano and financed by cryptocurrency bonds. The volcano would provide geothermal power for both the city and Bitcoin mining. A bond offering would happen in 2022 entirely in Bitcoin, Bukele said, wearing his signature backwards baseball cap. . El Salvador's government is throwing even more of its weight behind Bitcoin. However El Salvador recently declared Bitcoin - the most widely established crypto-currency - to be legal tender and its president plans to build a Bitcoin city at the base of a volcano, with the cryptocurrency used to fund the project. The only tax in the City will be a 10% value-added tax to help fund construction and . airport, port, rail", Bukele said at the Latin American Bitcoin and Blockchain Conference on Saturday. President Nayib Bukele said El Salvador plans to build the world's first "Bitcoin City", powered by a volcano and financed by cryptocurrency bonds. El Salvador plans 'bitcoin city' powered by volcano. Coindesk and BBC News report President Nayib Bukele has unveiled plans to build a "Bitcoin City" near a volcano along . Mizata (El Salvador) (AFP) - President Nayib Bukele said El Salvador plans to build the world's first "Bitcoin City", powered by a volcano and financed by cryptocurrency bonds. El Salvador will build an oceanside "Bitcoin City" at the base of a volcano, President Nayib Bukele said on Saturday . Financing for the city will come from bitcoin-backed bonds that the country plans to introduce in 2022, the first of which will be a 10-year $1 billion bitcoin-backed volcano bond with a 6.5% . El Salvador plans to build a bitcoin city on volcano to mine cryptocurrency El Salvador has taken the unprecedented step of building a city solely devoted to bitcoin mining and also funded by bitcoin. El Salvador plans to build a Bitcoin city at the base of a volcano, with the cryptocurrency used to fund the project, its president has announced. El Salvador's government is throwing even more of its weight behind Bitcoin. President Nayib Bukele said El Salvador plans to build the world's first "Bitcoin City", powered by a volcano and financed by cryptocurrency bonds. "We'll start funding in 2022, the bonds will be available in 2022," said Bukele. Arguably the more sensational aspect of El Salvador's Bitcoin bond is the plan to build a so-called "Bitcoin City." The bond will help pay for a build-out that could include geothermal power plants and crypto mining equipment, which itself could eventually help generate revenue for the nation. El Salvador's president has said the Central American country plans to build a volcano-powered "bitcoin city" financed partly by an issue of $1bn in sovereign bonds backed by the cryptocurrency. Dressed in pristine white in front of an audience of investors and foreign visitors, El Salvador's president, Nayib Bukele, recently announced plans to create an oceanside "Bitcoin City" at the base of a volcano.Bukele said his new urban center was inspired by the legendary cities built by Alexander the Great except El Salvador's would Special crypto-economic zone using thermal power from a nearby volcano, no it's not the first post-Craig Bond film . El Salvador's president plans to create a 'Bitcoin City' at the base of an active volcano. Bukele said his new urban center was inspired by the legendary cities built by Alexander the Great except El Salvador's would be fueled by cryptocurrency. El Salvador plans first 'Bitcoin City', backed by bitcoin bonds (Corrects to show Blockstream executive Samson Mow talking about the possibility of 100 countries issuing bitcoin-backed bonds . Mizata (Salvador) (AFP) - New step in the crypto-revolution in El Salvador: President Nayib Bukele wants to build "Bitcoin City", a new city powered by the energy of a volcano and financed by cryptocurrency debt. El Salvador planned to issue the initial bonds in 2022, Bukele said, suggesting it would be in 60 days time. The city, including a bitcoin mine, will be powered via geothermal energy from the nearby Conchagua volcano. Samson Mow, chief strategy officer of blockchain technology provider Blockstream, told the gathering the first 10-year issue, known as the "volcano bond", would be worth $1 billion, backed by bitcoin and carrying a coupon of 6.5%. "This is a fully . El Salvador to build city financed by bitcoin and powered by geothermal. Mining is the energy-intensive process of creating new bitcoin by solving cryptographic puzzles. In a rock concert-like atmosphere, El Salvador President Nayib Bukele announced that his government will build an oceanside " Bitcoin City " at the base of a volcano. LA LIBERTAD, El Salvador (AP) In a rock concert-like atmosphere, El Salvador President Nayib Bukele announced that his government will build an oceanside "Bitcoin City" at the base of a . Dressed in pristine white in front of an audience of investors and foreign visitors, El Salvador's president, Nayib Bukele, recently announced plans to create an oceanside "Bitcoin City" at the base of a volcano. El Salvador's president now plans on building a Bitcoin City El Salvador adopted Bitcoin as a legal tender in September . Expected costs are around USD 1 billion with the aim to attract foreign investors. the world's first Bitcoin city, powered by a volcano and financed by . By Agency Report On Nov 22, 2021. Bitcoin City "will include everything: residential areas, other businesses, services, museums, places of recreation . El Salvador to issue $1 billion tokenized bond via Blockstream's Liquid sidechain with $500 million allocated to construction of the city and $500 million used to buy more bitcoin. Dressed in pristine white in front of an audience of investors and foreign visitors, El Salvador's president, Nayib Bukele, recently announced plans to create an oceanside "Bitcoin City" at the base of a volcano. The city will have residential . 28th November 2021, 04:40 GMT+11. President Nayib Bukele has revealed plans to establish a "Bitcoin City" near a volcano along the Gulf of Fonseca, between La Unin and Conchagua, according to Coindesk and BBC News. The government plans to issue a $1 billion "volcano bond" to raise money, half of which will be invested in Bitcoin and half of which will be used to build out the city. At the end of the activities of the so-called Bitcin Week on Saturday night, Bukele said that the city would be located [] On stage with Bukele, Mow said half of "volcano bonds" would be invested in bitcoin, and the other half in . The new "bitcoin city" will be constructed in the shape of a coin near the base of the Conchagua volcano. The city will have the shape of a large coin and will use the volcano's geothermal energy . Bitcoin City \"is gonna include everything: residential areas, commercial areas, services, museums, entertainment airport, port, rail,\" Bukele said at the Latin American Bitcoin and . El Salvador's president has said the Central American country plans to build a volcano-powered "bitcoin city" financed partly by an issue of $1bn in sovereign bonds backed by the cryptocurrency. Bukele said his new urban center was inspired by the legendary cities built by Alexander the Great except El Salvador's would be fueled by cryptocurrency. MIZATA, El Salvador President Nayib Bukele said El Salvador plans to build the world's first "Bitcoin City", powered by a volcano and financed by cryptocurrency bonds. El Salvador plans to construct a "Bitcoin City" near a volcano that will be funded by the cryptocurrency, the country's President Nayib Bukele announced Saturday. 21 Nov 2021 0. El Salvador President Nayib Bukele speaks at the closing ceremony of Bitcoin Week, where he announced the plan to build the first 'Bitcoin City' in the world. El Salvador, the only country in which bitcoin is a legal tender, is going to build an entire city based on the largest cryptocurrency by market value, President Nayib Bukele told a raucous crowd in a Saturday night presentation at Bitcoin Week in El Salvador. El Salvador's government is committing significantly more resources to Bitcoin. On November 20, in an atmosphere of 'supershow' in the purest American style, Nayib Bukele . The city will have residential and commercial areas, services, entertainment, restaurants and an airport. President Nayib Bukele during the closing ceremony of a congress for cryptocurrency investors in Santa Maria Mizata, El Salvador, on Nov. 20, where he announced plans for a "Bitcoin City." Bukele said the city would be built near the Conchagua volcano in southeastern El Salvador. Nayib Bukele announced they want to build a cryptocurrency-fueled city near the Conchagua volcano to harness geothermal energy to do Bitcoin mining and power . Click to comment Comments El Salvador plans to issue $1 billion in tokenized U.S.-dollar denominated 10-year bonds to pay 6.5% via the Liquid Network, according to Samson Mow, chief strategy officer of Blockstream. El Salvador plans to build the world's first Bitcoin City, initially funded with bitcoin-backed bonds, President Nayib Bukele reported, doubling his bet to leverage cryptocurrency to fuel investments in the Central American country. This is a fully ecological city," Bukele told the crowd. The city, including a bitcoin mine, will be powered via geothermal energy from the nearby Conchagua volcano. In a rock concert-like atmosphere, El Salvador President Nayib Bukele announced that his government will build an oceanside "Bitcoin City" at the base of a volcano. President Nayib Bukele said El Salvador plans to . To facilitate crypto mining, the metropolis will have its own geothermal power plant, and there [] MIZATA, El Salvador President Nayib Bukele said El Salvador plans to build the world's first 'Bitcoin City', powered by a volcano and financed by Wednesday, 24 November 2021 09:10 GMT While that raised concerns across different banking organizations and cryptocurrency detractors, the Central American country has announced its plans to build a 'Bitcoin City' at the base of a volcano, funded initially by bitcoin-backed bonds. El Salvador's president said he aims to build a "Bitcoin City" at the base of a volcano in the country, where geothermal energy.. El Salvador plans 'Bitcoin City,' powered by crypto bonds and volcano SeekingAlpha 22 Nov 2021 The President of El Salvador announced plans for "Bitcoin City" powered by geothermal energy. Volcano-powered Bitcoin City could be Bond villainy or the state of play in 2021. El Salvador plans first 'Bitcoin City' powered by a volcano Tech savvy president says city will not levy any taxes bar VAT Mon, Nov 22, 2021, 09:36 Updated: Mon, Nov 22, 2021, 09:37 MIZATA, El Salvador - El Salvador plans to build the world's first Bitcoin City, funded initially by bitcoin-backed bonds, President Nayib Bukele said on Saturday, doubling down on his bet to . El Salvador President Nayib Bukele says his government will build an oceanside "Bitcoin City" at the base of a volcano LA LIBERTAD, El Salvador -- In a rock concert-like atmosphere, El . Many opponents say a Bitcoin City would likely lead to further . Plans for a 'Bitcoin City' Powered by a Volcano Have Arrived in Latin America President Nayib Bukele of El Salvador says the ambitious project will be financed by $1 billion in sovereign bonds . Bukele said the city would be financed by cryptocurrency bonds and would harness geothermal power from a volcano. Many opponents say a Bitcoin City would likely . El Salvador's president has said the Central American country plans to build a volcano-powered "bitcoin city" financed partly by . Bitcoin City "is gonna include everything: residential areas, commercial areas, services, museums, entertainment airport, port, rail," Bukele said at the Latin . Bukele said the city would be financed by cryptocurrency bonds and would harness geothermal power from a volcano. Half of the funds of the so-called "volcano bond" will be converted to Bitcoin and the . IMF Says El Salvador Shouldn . El Salvador plans to issue $1bn in tokenized US-dollar denominated 10-year bonds to finance the project. The city will be built near the Conchagua volcano to take advantage of geothermal energy to power both the . The government of El Salvador is doing exactly that. El Salvador plans Bitcoin city at base of volcano.
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