Revealed! El Salvador President Shares Beautiful Glimpses Of World's First ¡®Bitcoin City¡¯
President of world's first country to legalize Bitcoin, El Salvador, has recently shared the beautiful glimpses of the 'Bitcoin city'.
In September 2021, El Salvador became the world¡¯s first nation to officially adopt Bitcoin as a legal tender. About two months later, its President Nayib Bukele had announced plans to create the world's first ¡®Bitcoin City' during his speech at the Latin Bitcoin conference (LaBitConf) in November 2021.
And now, the President has taken another big step forward and shared the first glimpses of the ¡®golden bitcoin city¡¯ by tweeting about it yesterday!
#Bitcoin City is coming along beautifully ?? pic.twitter.com/A6ay8aAREW
¡ª Nayib Bukele (@nayibbukele) May 9, 2022
But no, the city won¡¯t be made up of golden metal, that is just the architect¡¯s choice of colour for the scale model.
The actual city will be mostly green (trees) and blue (sea), the President tweeted. He also shared pictures of the airport and landmarks. El Salvador's President said the Bitcoin city is coming along beautifully.
This tweet showing the teaser of the bitcoin city in progress comes a day after he mentioned that his country bought the dip amidst the crypto crash. El Salvador bought 500 coins at an average USD price of approximately $30,744, implying the country added another $15.5 million worth of crypto to its balance sheet.
Trees everywhere ? pic.twitter.com/kVUDHx2DlC
¡ª Nayib Bukele (@nayibbukele) May 10, 2022
#Bitcoin City at night. pic.twitter.com/n6RXn9BkU0
¡ª Nayib Bukele (@nayibbukele) May 10, 2022
El Salvador just bought the dip! ??
¡ª Nayib Bukele (@nayibbukele) May 9, 2022
500 coins at an average USD price of ~$30,744 ?#Bitcoin
Also Read: Meet The Dutch 'Bitcoin Family' Who Emigrated To 'Bitcoin Heaven' Portugal For Tax-Free Crypto
IMF¡¯s Continuous Stance Against Legalizing Bitcoin
For months, the International Monetary Fund (IMF) has expressed discontent against El Salvador President Bukele¡¯s bitcoin experiment.
In January 2022, the IMF pushed El Salvador to ditch bitcoin as legal tender.
IMF directors stressed that ¡°there are large risks associated with the use of bitcoin on financial stability, financial integrity, and consumer protection, as well as the associated fiscal contingent liabilities¡±, as per a CNBC report.
El Salvador was reportedly urged to narrow the scope of its bitcoin law by removing bitcoin¡¯s status as legal money.
And just about a fortnight ago, one of the poorest nations in the world, the Central African Republic adopted Bitcoin as an official currency last month, making it only the second nation in the world to do so.
This comes after El Salvador¡¯s President had predicted in January 2022 that 2 more countries will legalize bitcoin in 2022.
Also Read: Not Bitcoin, Ethereum Or Dogecoin, This Major Crypto Coin Has Crashed Over 80% In 24 Hours!
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