{"id":6973,"date":"2021-11-25T15:02:21","date_gmt":"2021-11-25T15:02:21","guid":{"rendered":"https:\/\/atozcrypto.org\/?p=6973"},"modified":"2021-11-25T15:02:21","modified_gmt":"2021-11-25T15:02:21","slug":"el-salvador-plans-to-develop-bitcoin-city","status":"publish","type":"post","link":"https:\/\/atozcrypto.org\/el-salvador-plans-to-develop-bitcoin-city\/","title":{"rendered":"El Salvador plans to develop Bitcoin City"},"content":{"rendered":"

El Salvador is a pioneer when it comes to cryptocurrencies, as it was the first to use Bitcoins as legal tenders. Now, it is planning for something even bigger, i.e., developing a Bitcoin City, according to President Nayib Bukele.<\/p>\n

The Bitcoin City will be adjacent to a volcano, in the Gulf of Fonseca. The energy required to run the city, and mine Bitcoins will come from a power plant, powered by the volcano.
\n\"Ledger<\/a>
\nThe city will have all the essential components, both residential and commercial, airports and railways. The city will take the shape of a coin, and a central plaza will have the Bitcoin symbol. It will be the first city to not have income, capital gains, or payroll taxes.<\/p>\n

It will also release a Bitcoin bond, a token available on Liquid Network and developed by Blockstream. $500 million will be used for construction and energy generation, and the other half for buying more cryptocurrencies. It brings the country’s overall collection to 2000 Bitcoins.
\n\"\"<\/a>
\nIt will launch securities law and grant licenses to Bitfinex Securities. The Bitcoin bond will have a 10-year tenure, driven by US dollars, and have a 6.5% interest rate. In the end, the percentage yield will be 146%.
\n\"cloudways\"<\/a>
\nAccording to experts, Bitcoin’s price can soar up to $1 million in the next five years. And if El Salvador jumps the bandwagon now, it can reap so much profits in the upcoming years.<\/p>\n","protected":false},"excerpt":{"rendered":"

El Salvador is a pioneer when it comes to cryptocurrencies, as it was the first to use Bitcoins as legal tenders. Now, it is planning for something even bigger, i.e., developing a Bitcoin City, according to President Nayib Bukele. The Bitcoin City will be adjacent to a volcano, in the Gulf of Fonseca. The energy …<\/p>\n","protected":false},"author":1,"featured_media":6972,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pgc_meta":"","_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[61],"tags":[137,729,138,246,139,731,140,136,372,728,730,432,558],"aioseo_notices":[],"yoast_head":"\nEl Salvador plans to develop Bitcoin City<\/title>\n<meta name=\"description\" content=\"El Salvador is a pioneer when it comes to cryptocurrencies, as it was the first to use Bitcoins as legal tenders.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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