El Salvador became the first nation to officially adopt Bitcoin as a legal tender in September 2021. Two months later, its president Nayib Bukele announced plans to create the world’s first ‘Bitcoin City’ during his speech in November 2021.
Now, the president has taken a big step forward and shared glimpses of the ‘golden bitcoin city’ by tweeting about it yesterday.
However, the city won’t be made up of golden metal, that is just the architect’s choice of color for the scale model.
The actual city will be mostly green and blue, due to trees and the sea, the president said. He also shared pictures of the airport and landmarks. El Salvador’s President said the Bitcoin city is coming along beautifully.
This tweet showing the teaser of the bitcoin city in progress comes a day after he said that his country bought the dip amidst the crypto crash. El Salvador bought 500 coins at an average USD price of approximately $30,774, implying the country added another $15.5 million worth of crypto to its balance sheet.
With a beautiful lookout in the volcano 🥺 pic.twitter.com/mlkQ19k5AH— Nayib Bukele (@nayibbukele) May 10, 2022
While other developing countries like El Salvador are opting for and adopting cryptocurrencies, Nepal is still moving backward with the criminalization of crypto. NRB has banned all Nepali nationals from buying or investing in cryptocurrencies. It has gone to the lengths of forbidding non-nationals living in Nepal from transacting in cryptocurrencies.
The Ministry of Information and Technology and the Ministry of Finance had written to the NTA to prohibit, disable and blacklist crypto apps saying that financial crime has increased in Nepal due to cryptocurrency, bitcoin, hyper networking, online gambling, and illegal activities.