El Salvador President Unveils Plan for Bitcoin City
Model for Bitcoin City Has Been Unveiled
On May 10, El Salvador President Nayib Bukele posted pictures of a scale model of his planned Bitcoin city, which will be constructed near the Conchagua volcano on the Gulf of Fonseca in the southeast of the Central American country.
The pictures show a golden disc-shaped model with a hexagonal center and key landmarks, such as the airport, and artists’ depictions of various scenes, such as the lookout at the top of Conchagua Volcano and a picture of the city at night.
Bukele assured that the gold color was simply the architect’s choice for the model. However, the finished product will be mainly composed of greens for trees and blue for the sea.
“And no, the city won’t be made up of golden metal; that is just the architect’s choice of color for the scale model. The actual city will be mostly green (trees) and blue (sea),” he wrote in the tweet.
Hub for Crypto Traders
Bitcoin City is said to have 0% income, capital gains, property, payroll, and municipal taxes, as well as 0% CO2 emissions.
In a nutshell, Bitcoin City will be a crypto trading hub. However, Bukele promised that there would also be residential areas, malls, restaurants, and a port including access to digital education, technology, and sustainable public transportation.
