El Salvador Plans to Build a ‘Bitcoin City’ Near a Volcano

El Salvador President Nayib Bukele is at it again. He announced Saturday his plans to build “Bitcoin City” near a volcano in the Gulf of Fonseca with a $1 billion commitment to establishing crypto mining infrastructure and buying more Bitcoin.

This is Bukele’s latest effort to make Bitcoin central to El Salvador’s economy. He introduced a law that made the cryptocurrency legal tender in September, and in October, his plan to use volcanic energy to mine Bitcoin finally came to fruition.

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