Bitcoin City to be built in Latin America

El Salvador will issue the world's first bitcoin bonds it will use to construct Bitcoin City.

 

banks.az reports that country's president Naib Boucle during his speech at an event on promotion of cryptocurrencies. 

 

The Salvadoran blockchain company has signed an agreement with Blockstream on the placement of bitcoin bonds for $1 billion. Half of the proceeds from their sale will be converted into bitcoins, and the other part will go to the city's infrastructure and mining stations powered by volcanoes.