El Salvador's Nayib Bukele Reveals Never-Before-Seen Details Of The Planned Bitcoin City
While El Salvador has been battling gang violence for the last few months, recent posts from the country’s leader may indicate that the Central American nation is ready to put all of that behind them and move on with its Bitcoin goals. Nayib Bukele, on Monday, shared pictures of a model for the planned Bitcoin city.
Mostly Green And Blue
In multiple tweets on Monday, El Salvador’s president Nayib Bukele shared pictures of an architectural model of the highly anticipated Bitcoin city. The architectural model was made with fully gold plated metal aside from the airport, complementing the golden city with a silver sheen. At the center of the model from above, a Bitcoin could be seen almost connecting and holding it all together.
While the model, which included a lookout built into the volcano, looked impressive, Bukele revealed that the gold-plated metal was just the architect’s preference for presenting the model, adding that the standout colors of the city would be green and blue with a focus on the environment. Bukele’s tweet read, “And no, 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 (trees) and blue (sea).”
The recent Twitter activity of El Salvador’s president represents a shift from the focus of reporting on the war on gang violence over the last couple of months. Since March, El Salvador has imposed martial law to combat rising homicides due to gang violence.
As previously reported by ZyCrypto, the leader was forced to give up speaking at the Bitcoin 2022 conference due to the crisis. In a letter to the organizers, Bukele wrote, “I have just made the hard decision of canceling my participation in the conference due to unforeseen circumstances in my home country that require my full-time presence as President of a Nation.”
It is worth noting that while El Salvador tackles the situation, the government of El Salvador has not lacked support from the crypto community. For example, Bitfinex collaborated with Tether to donate and raise funds for affected families, while Binance plans to employ more youths in the country.
Despite Recent Bitcoin Activity Bitcoin Bond Plans Remain Unclear
Before Bukele shared photos of the Bitcoin city model, the president revealed that the country bought the dip, adding to its BTC reserve. Bukele tweeted, “El Salvador just bought the dip! 500 coins at an average USD price of ~$30,744.”
The latest purchase follows the country’s strategy of buying Bitcoin at perceived lows and takes the country’s reserve to about 2K BTC. However, despite the president’s recent flurry of Bitcoin activity, the country’s Bitcoin bond plan remains in limbo.
Speaking on local TV about a week ago, the country’s treasury minister Alejandro Zelaya confirmed that El Salvador was yet to set a date for the launch. Once again, Zelaya cited the crisis in Ukraine and poor market conditions with the deep correction in the price of Bitcoin as limiting factors.
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