'Feel the Bit': El Salvador president gets mixed reaction to Bitcoin drive

'Feel the Bit': El Salvador president gets mixed reaction to Bitcoin drive

SAN SALVADOR – El Salvador’s President Nayib Bukele took the stage last weekend at the end of “Bitcoin Week” to the cheers of fans delighted his Central American country has become the first to adopt cryptocurrency as legal tender, alongside the U.S dollar. Bukele, 40, wearing his signature backwards baseball cap, referred to himself as a “savior” as he unveiled plans to build “Bitcoin City” at the base of the Conchagua volcano overlooking the Pacific. Funded by Bitcoin-backed bonds and powered by geothermal energy, the city would offer a tax-free haven. “Invest here and earn all the money you want,” he told the euphoric crowd. Supporters have hailed Bukele’s plans — including making Bitcoin legal tender in September — saying they would bring jobs, financial inclusion and foreign investment to …
More on: www.japantimes.co.jp