{"id":22869,"date":"2022-05-11T12:48:28","date_gmt":"2022-05-11T16:48:28","guid":{"rendered":"https:\/\/coincentral.com\/?p=22869"},"modified":"2022-05-11T12:48:28","modified_gmt":"2022-05-11T16:48:28","slug":"bukele-reveals-btc-city-model","status":"publish","type":"post","link":"https:\/\/coincentral.com\/bukele-reveals-btc-city-model\/","title":{"rendered":"Nayib Bukele Reveals First Layout of Bitcoin City"},"content":{"rendered":"<p>El Salvador&#8217;s president Nayib Bukele recently revealed a layout of the Bitcoin City, shortly after the nation bought the dip.<\/p>\n<h2>Bukele Reveals BTC City Architectural Plans<\/h2>\n<p>On his Twitter account, Bukele shared pictures of the city&#8217;s urbanistic layout accompanied by the caption &#8220;BTC City coming along beautifully.&#8221; The project \u2014announced last November\u2014 showcases four detailed landmarks said to be built throughout La Uni\u00f3n, a small Salvadorean municipality.<\/p>\n<p>The government said BTC City will come with zero income, capital gains, payroll or municipal taxes as well as 0% CO2 emissions.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> City is coming along beautifully \u2764\ufe0f <a href=\"https:\/\/t.co\/A6ay8aAREW\">pic.twitter.com\/A6ay8aAREW<\/a><\/p>\n<p>&mdash; Nayib Bukele (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1523799427856490496?ref_src=twsrc%5Etfw\">May 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As the images show, BTC City will feature several public squares, public roads, a seaport and various centerpieces, one of which looks like a gigantic Bitcoin. Of course, the city is not golden \u2014it&#8217;s just the design color chosen by Fernando Romero, a renowned Mexican architect. Bukele also revealed that BTC City will host an international airport.<\/p>\n<p>As such BTC City will host several green and blue spaces, connoting Bukele&#8217;s goal of creating the city with a vast amount of water and trees.\u00a0<\/p>\n<figure id=\"attachment_22872\" aria-describedby=\"caption-attachment-22872\" style=\"width: 1071px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-22872\" src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/FSXdIw1XwAEbg_2-1.jpg\" alt=\"BTC City Green and Blues\" width=\"1071\" height=\"602\" srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/FSXdIw1XwAEbg_2-1.jpg 1280w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/FSXdIw1XwAEbg_2-1-591x332.jpg 591w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/FSXdIw1XwAEbg_2-1-621x349.jpg 621w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/FSXdIw1XwAEbg_2-1-300x169.jpg 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/FSXdIw1XwAEbg_2-1-800x450.jpg 800w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/FSXdIw1XwAEbg_2-1-768x432.jpg 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/FSXdIw1XwAEbg_2-1-600x338.jpg 600w\" sizes=\"(max-width: 1071px) 100vw, 1071px\" \/><figcaption id=\"caption-attachment-22872\" class=\"wp-caption-text\">Source: Nayib Bukele on <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1523867195821985798\">Twitter<\/a>.<\/figcaption><\/figure>\n<p>Bukele also shared an image of what is a lookout built atop the volcano that&#8217;s being used to power BTC mining. It features a ring hoisted above the boardwalk, which serves as a balcony for citizens.<\/p>\n<figure id=\"attachment_22884\" aria-describedby=\"caption-attachment-22884\" style=\"width: 1257px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-22884 size-full\" src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/e.jpg\" alt=\"BTC City Volcano Outlook\" width=\"1257\" height=\"1203\" srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/e.jpg 1257w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/e-591x566.jpg 591w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/e-621x594.jpg 621w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/e-300x287.jpg 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/e-470x450.jpg 470w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/e-768x735.jpg 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/e-600x574.jpg 600w\" sizes=\"(max-width: 1257px) 100vw, 1257px\" \/><figcaption id=\"caption-attachment-22884\" class=\"wp-caption-text\">Source: Nayib Bukele on <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1523869787365027841\">Twitter<\/a><\/figcaption><\/figure>\n<p>Last week, the government announced the Salvadoran Bitcoin Bonds, a financial instrument that would help in the building process of BTC City.\u00a0<\/p>\n<p>The government said the bonds were scheduled for issuance earlier this year. However, Treasury Minister Alejandro Zelaya announced the date of the launch had to be postponed due to the &#8220;current state of global markets&#8221;\u2014especially after the Russian invasion of Ukraine.\u00a0<\/p>\n<p>Finally, the president share an image of how the city at night would look something like this:\u00a0<\/p>\n<figure id=\"attachment_22883\" aria-describedby=\"caption-attachment-22883\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-22883 size-full\" src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/dd.jpg\" alt=\"BTC City at Night\" width=\"1280\" height=\"720\" srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/dd.jpg 1280w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/dd-591x332.jpg 591w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/dd-621x349.jpg 621w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/dd-300x169.jpg 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/dd-800x450.jpg 800w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/dd-768x432.jpg 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2022\/05\/dd-600x338.jpg 600w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><figcaption id=\"caption-attachment-22883\" class=\"wp-caption-text\">Source: Nayib Bukele on <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1523867195821985798\">Twitter<\/a><\/figcaption><\/figure>\n<h2>Bitcoin Falls 50% From Its ATH \u2014El Salvador Buys the Dip<\/h2>\n<p>At the time of writing, <a href=\"https:\/\/coincentral.com\/beginners-guide-what-is-bitcoin\/#:~:text=Released%20as%20an%20open%2Dsource,currency%20that%20only%20exists%20electronically.\">Bitcoin<\/a> is trading at $31,569. BTC has fallen more than 10% in the last seven days and has dropped 50% from last year&#8217;s all-time high. Most high-profile currencies tanked significantly this week, with the second-largest currency by market cap Ethereum (ETH) also losing 50% of its price, and currently trading at $2,324, as per data from Coinmarketcap.<\/p>\n<p>However, Bukele thinks current market conditions are ideal to start buying. On May 9, the president announced the country had bought 500 BTC at an average price of $30,744 each \u2014approximately $15.5 million at that time. This is by far the largest amount of Bitcoin that a Latin American country has purchased.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">El Salvador just bought the dip! \ud83c\uddf8\ud83c\uddfb<\/p>\n<p>500 coins at an average USD price of ~$30,744 \ud83e\udd73<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a><\/p>\n<p>&mdash; Nayib Bukele (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1523742670044413954?ref_src=twsrc%5Etfw\">May 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The overall crypto market has shed blood in the last five weeks. This is the biggest sell-off since March 2020 and most analysts in the crypto community signal the US stock market plunge as the trigger.<\/p>\n<p>On May 9, the US Federal Reserve said it will raise interests by 50 basis points (bps) \u2014the biggest rates spike in 22 years. The market took another hit when Terra, the DeFi (decentralized finance) protocol behind the Luna token, <a href=\"https:\/\/coincentral.com\/terras-lfg-sells-750m-of-bitcoin-ust-depegs-by-7-luna-price-update\/\">sold $750 million worth of BTC<\/a> causing a broader market bloodbath by triggering massive sell-offs.<\/p>\n<p>Terra&#8217;s Luna Foundation Guard (LFG) tried to disguise the selling as a loan to OTC (over-the-counter) trading firms, saying the same amount of BTC would be bought as soon as the market starts recovering.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador&#8217;s president Nayib Bukele recently revealed a layout of the Bitcoin City, shortly after the nation bought the dip. Bukele Reveals BTC City Architectural Plans On his Twitter account, Bukele shared pictures of the city&#8217;s urbanistic layout accompanied by the caption &#8220;BTC City coming along beautifully.&#8221; The project \u2014announced last November\u2014 showcases four detailed<\/p>\n","protected":false},"author":8985,"featured_media":22884,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"iawp_total_views":9,"footnotes":""},"categories":[1],"tags":[5741,22249,16367],"class_list":{"0":"post-22869","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-bitcoin","9":"tag-bitcoin-dip","10":"tag-cryptocurrency-adoption"},"wppr_data":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nayib Bukele Reveals First Layout of Bitcoin City - CoinCentral<\/title>\n<meta name=\"description\" content=\"El Salvador&#039;s president Nayib Bukele has revealed the first model of the Bitcoin City, designed with a BTC centerpiece in one of the public squares.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coincentral.com\/bukele-reveals-btc-city-model\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nayib Bukele Reveals First Layout of Bitcoin City - 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