El Salvador plans to build world’s first tax-free ‘Bitcoin City’ – The National
- Date: 22-Nov-2021
- Source: The National
- Sector:Economy
- Country:Middle East
El Salvador plans to build world’s first tax-free ‘Bitcoin City’ – The National
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.
Mr Bukele used a gathering of Bitcoin enthusiasts at the weekend to launch his latest idea, much as he used an earlier Bitcoin conference in Miami to announce in a video message that El Salvador would be the first country to make the cryptocurrency legal tender.
A bond offering would happen in 2022 entirely in Bitcoin, Mr Bukele said, wearing his signature backwards baseball cap. And construction would begin 60 days after financing was ready.
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