El Salvador plans to build the world’s first “Bitcoin City,” initially funded by Bitcoin-backed bonds, President Nayib Bukele announced on Saturday, doubling down on his bet that the cryptocurrency will fuel investment in the Central American country. Speaking at the end of a week-long Bitcoin promotion in El Salvador, Bukele stated that the city planned…
El Salvador made Bitcoin legal tender not too long ago but the country’s Bitcoin Trust has already gained millions in profit, and the country’s President Nayib Bukele has now stated that the profits will be directed towards building 20 schools. The update was confirmed via the press secretary of the presidential office via Twitter. Bukele,…
Written by Matthew Sparkes El Salvador has officially adopted bitcoin as legal tender. Draft legislation may soon lead Panama down the same path, while China, the US and the UK are investigating launching their own cryptocurrencies. Here’s what you need to know. Why are countries adopting bitcoin? President Nayib Bukele hopes bitcoin will alleviate El Salvador’s prickliest…