In November last year, Bitcoin was scaling its all-time highs that Bukele had first revealed plans for this city. The city will be powered by harvesting energy from a volcano and have only a value-added tax to run the municipal amenities and pay back the money raised to construct it. Scheduled for purchase in early 2022, the bonds still haven't been issued yet.
that could be used for transactions by the people. Vice reported that only 2 percent of remittances were happening on this wallet, and over 70 percent of the population had"little or no trust" in the Bitcoin. With little public and investor interest and the hanging sword of default on conventional debt, it remains to be seen how Bukele will fund the construction of his Bitcoin city. Stay ahead with the latest science, technology and innovation news, for free:
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