El Salvador plans to build the world’s first “Bitcoin City”

Ten years ago, almost none of us knew the importance of Bitcoin, and today there are official plans for the construction of the first so-called “Bitcoin City”. Yes, you read that right. Behind this plan is a specific country that has shocked the world not so long ago with its decision to be the first country in the world to accept Bitcoin as legal tender. You probably already know that we are talking about the country of El Salvador. The country is moving in this “digital” direction mainly due to the commitment of the country’s president, Nayib Bukele, and it is he who announced the plan to build the first city that will operate thanks to the cryptocurrency Bitcoin.

“If you want Bitcoin to spread over the world, we should build some Alexandrias.”

However, you are definitely wondering how much something like this will cost. According to initial estimates, the construction costs will be approximately 300,000 BTC units, which currently represents more than $ 17 billion. Blockchain, the chief strategic director of the blockchain technology provider, also commented on the situation, saying: “This will make El Salvador the world’s financial center.” However, similar plans always take too long, but this time it doesn’t have to be that way at all. It is expected that the first so-called “Bitcoin bonds” could be issued as early as 2022, so it is possible that we will see a new city sooner than we think.