The president of El Salvador, Nayib Bukele, revealed renderings earlier this week of Bitcoin City, a city made to look like a Bitcoin. It is a design by Mexican architect Fernando Romero, founder of the firm FR-EE, who cast the scale model in a gold color. “Bitcoin City is coming along beautifully,” Bukele tweeted alongside a photo of the model.
The proposed city, which is in the shape of a coin (also known as a circle), is supposed to sit between the Gulf of Fonseca and the Conchagua volcano. The pitch is to power both the city and Bitcoin mining with the volcano’s geothermal energy, although the timing of the release was perhaps unfortunate. On Thursday, CNBC reported the broad sell-off in crypto had “erased more than $200 billion from the entire market in a single day.”
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. All content provided is for informational purposes only, and shall not be relied upon as financial/investment advice. Opinions shared, if any, are only shared for information and education purposes. Although the best efforts have been made to ensure all information is accurate and up to date, occasionally unintended errors or misprints may occur. We recommend you to please do your own research or consult an expert before making any investment decision. You may write to us at [email protected].