President Nayib Bukele was present during the closing of the Latin American Bitcoin and Blockchain Conference 2021 last Saturday, November 20, where he officially announced El Salvador’s upcoming Bitcoin City. The Salvadoran leader remarked that his government would develop this urban area to lure foreign investors.
We feel thrilled to read about and share this latest virtual currency-related report with our followers. We think El Salvador President Nayib Bukele and his government’s new initiative is certainly worth supporting.
We believe El Salvador’s upcoming Bitcoin City is a revolutionary project that would benefit the Central American nation, local and foreign investors alike, and the crypto-asset enthusiasts from there and around the world.
Based on the report posted online by the largest United States-based international broadcaster Voice of America, President Bukele told the cheering crowd in English about his government’s new initiative. He encouraged potential investors to pour their investment funds into El Salvador and earn all the money they desire there.
The Central American leader pointed out that El Salvador’s upcoming Bitcoin City would be constructed with enticing foreign investment in mind. The proposed business center will consist of residential areas, shopping malls, a port, and restaurants.
Moreover, the El Salvador government will provide infrastructure and land to erect the forthcoming, cryptocurrency-fueled Bitcoin City. This oceanside urban locale will rise near the Conchagua volcano, which is located in southeastern El Salvador and on the Gulf of Fonseca.
The Bitcoin City will also take advantage of geothermal energy to power both this soon-to-rise business hub and Bitcoin mining. We feel excited to learn about this report regarding El Salvador’s upcoming Bitcoin City.
We gathered that President Bukele was present during the five-day Latin American Bitcoin and Blockchain Conference 2021’s conclusion last Saturday evening. That event was where he launched his latest idea to Bitcoin enthusiasts.
As we all know, the flagship virtual currency has been the Central American territory’s legal tender alongside the US dollar since September 7, 2021. President Bukele also remarked that time that Bitcoin would assist in attracting foreign investments to his country.
Furthermore, he pointed out that this cryptocurrency would make it more affordable for Salvadorans living overseas to send funds home to their families. Bukele disclosed that a bond offering would take place in 2022 entirely in Bitcoin and that El Salvador’s upcoming Bitcoin City’s construction would start 60 days after financing gets prepared.
We believe that the El Salvador administration will succeed in its goal of attracting foreign investors. We think this milestone event will take place after the construction of El Salvador’s upcoming Bitcoin City.
We also want to congratulate and thank President Bukele’s government for being among the major groups worldwide spearheading the recognition and acceptance of cryptocurrencies for mainstream use.