El-salvador wants to build a city powered by Bitcoin at the base of a volcano.
In September of last year, El-salvador became the first country to adopt Bitcoin as a legal tender.
Since then, they have recorded an increase in tourist number by 30%
But that's not the issue now.
The issue is that they want to build a giant Bitcoin City,
The plan is to power the city with geothermal energy harnessed from the volcano.
President Nayib Bukele announces plans for Bitcoin City
President Bukele said he got the inspiration for what the city should look like from ancient cities build by Alexander the Great.
The plan is to build a 7, 466-hectare metropolis at the base of the Conchagua Volcano.
Although there are active fumarolic peaks on the mountain, there has not been any confirmed historic eruptions and I think that's why Bukele wants to build here.
El-salvador's Bitcoin City is designed to be in the shape of a perfect circle with the Bitcoin logo.
I must say that this concept is one of a kind.
Guess what the estimated cost of the city is...
According to President Bukele, it would cost 300 000 bitcoins to complete the city.
That's a whole lot of money.
I personally love the idea. I think it would be a revolution for the entire world economic system.
I also hope that other countries adopt concepts like this.
I'll keep my fingers crossed and see how it goes.