WebNov 22, 2024 · El Salvador plans to build the world's first "Bitcoin City" which won't levy any taxes except for value added tax, President Nayib Bukele said. ... known as the "volcano bond", would be worth $1 ... WebNov 22, 2024 · Samson Mow, chief strategy officer of blockchain technology provider Blockstream, told the gathering the first 10-year issue, known as the "volcano bond", …
Bitfinex CTO expects El Salvador bitcoin volcano bonds this year
WebNov 22, 2024 · To begin construction of the city, El Salvador will raise a billion dollar “bitcoin bond” with help from crypto infrastructure company Blockstream. $500 million from the bond will be to build ... WebAug 8, 2024 · Mizata, El Salvador, Nov 21 – President Nayib Bukele said El Salvador plans to build the world’s first “Bitcoin City”, powered by a volcano and financed by cryptocurrency bonds.Bitcoin City “is gonna include everything: residential areas, commercial areas, services, museums, entertainment… airport, port, rail,” Bukele said at … asiin germany
El Salvador plans
WebThe bonds will be issued on Liquid Network (a bitcoin sidechain) for $1B. The smallest increment you can buy is $100, and requires you stake (tie-up) your bitcoin for 5 years. El Salvador will use $500M of that to buy bitcoin, and to buy mining equipment. The other $500M will be for city and volcano [geothermal] energy infrastructure. WebJan 16, 2024 · The Bukele administration plans to use the nearby Conchagua volcano to power bitcoin mining with geothermal energy. Proceeds from the volcanic mining will back the new bonds, hence the name, ‘Volcano Bonds.’ Plans for El Salvador’s ‘Bitcoin City’ shown on the left; Fullmetal Alchemist’s Central City on the right. WebNov 28, 2024 · Mow talked up the "game theory" surrounding the bond issuance, and said bitcoin would hit the $1 million mark, allowing El Salvador to easily repay the 10-year … asij summer camp