Crypto bros could soon have a new dream destination.
The future.https://t.co/fFCWjcjFqm
Nayib Bukele ?
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Volcano power
Bukele said the city would be built near the Conchagua volcano in southeastern El Salvador.
The volcano would provide geothermal power for both the city and Bitcoin mining.
This is a fully ecological city that works and is energized by a volcano, said Bukele.
It wasnt the first time that Bukele has touted this approach.
Were still testing and installing, but this is officially the first#Bitcoinmining from the#volcanode?
The#BitcoinBondis coming.
The first one will be the Volcano Bond.
Backed by#Bitcoinand with a special Bitcoin Dividend.
Excited to make this a reality with@nayibbukele,@paoloardoino, and@bitcoinlawyer.
The only tax collected will be a 10% value-added tax.
Bukele also said the city would have zero carbon dioxide emissions.
The announcement forms part of Bukeles plans to create a global crypto hub.
In September, El Salvador became the first countryto adopt Bitcoin as legal tender.
The government also launched a digital wallet app loaded with $30 for every Salvadoran citizen who downloaded it.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
