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El Salvador’s President Reveals Golden Bitcoin City Model

El Salvador’s President, Nayib Bukele, has released the first glimpse of a model of Bitcoin City, which the country intends to build as the first ever dedicated...
El Salvador’s President Reveals Golden Bitcoin City Model El Salvador’s President Reveals Golden Bitcoin City Model

El Salvador’s President, Nayib Bukele, has released the first glimpse of a model of Bitcoin City, which the country intends to build as the first ever dedicated cryptocurrency hub in the world. The city model showcased an enormous Bitcoin logo in the main square.

Dreams of a Tax-Free City Powered by a Breathtaking Volcano

The utopian city will be powered by geothermal energy from the Conchagua volcano. The model features a halo-esque balcony footpath that crowns the scene.

Bitcoin City will have 0% taxes for all property assets, capital profits, payroll, municipal taxes, and CO2 emissions.

Planning for Bitcoin City shows that it will be built in La Union, a small city with a population of 34,000. As this is a port city, El Salvador’s president Nayib Bukele explained that the gold color of the city’s model was simply a stylistic decision by the architect, and that the actual Bitcoin city will be full blues and greens, complementing the majestic sea and colossal number of trees it rests alongside.

Risk It for the Bitcoin Biscuit

President Bukele announced another investment into Bitcoin just yesterday, in which the country bought over $15 million’s worth of the leading crypto. Bukele celebrated the purchase as “buying the dip”. This could be a risky move, according to some experts, especially in light of the fact that the International Monetary Fund has already issued warnings to El Salvador after it became the first country in the world to adopt Bitcoin as legal tender.

Experts worry that such large investments on a national scale are too risky due to the volatile nature of crypto, and the poverty-stricken economy of the small Latin American country. Fitch and Moody’s rating agencies have reduced El Salvador’s credit tier to “highest-risk”, while labelling El Salvador’s Bitcoin bonds as “worthless”. A number of specialists also predict that El Salvador will be unable to pay its $800 million loan due in January.

Bitcoin Drops by 20% in a Week

Bitcoin (BTC) has fallen by nearly 19% over the last week, and is now trading at $30,610, as of this writing. On May 10th, the leading crypto sank to $30,016, and has since recovered a mere $600 in value, resulting is losses of 3.60% in the last 24 hours. Overall, Bitcoin (BTC) now finds itself 55.8% down from its ATH, set half a year ago in November.

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22-05-2022 11:32:45 (UTC+7)

EUR/USD

1.0562

-0.0024 (-0.23%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

EUR/USD

1.0562

-0.0024 (-0.23%)

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↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

GBP/USD

1.2489

+0.0029 (+0.23%)

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Neutral

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USD/JPY

127.86

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AUD/USD

0.7039

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USD/CAD

1.2839

+0.0014 (+0.11%)

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EUR/JPY

135.05

-0.24 (-0.18%)

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EUR/CHF

1.0296

-0.0005 (-0.05%)

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Gold Futures

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Copper Futures

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Crude Oil WTI Futures

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Brent Oil Futures

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Natural Gas Futures

8.058

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US Coffee C Futures

216.48

-2.22 (-1.02%)

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Euro Stoxx 50

3,657.03

+16.48 (+0.45%)

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S&P 500

3,901.36

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DAX

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FTSE 100

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20,717.24

+596.56 (+2.96%)

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Buy (4)

Sell (8)

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Buy (1)

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US Small Cap 2000

1,773.27

-2.96 (-0.17%)

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↑ Buy

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IBEX 35

8,484.50

+78.50 (+0.93%)

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Neutral

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Buy (3)

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BASF SE NA O.N.

48.850

-0.010 (-0.02%)

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Bayer AG NA

63.74

+0.34 (+0.54%)

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Buy

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Allianz SE VNA O.N.

195.58

+0.78 (+0.40%)

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Buy

Moving Avg:

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Adidas AG

172.80

+0.92 (+0.54%)

Summary

Buy

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Buy (6)

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Deutsche Lufthansa AG

6.852

+0.049 (+0.72%)

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Siemens AG Class N

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9.362

-0.130 (-1.37%)

Summary

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 EUR/USD1.0562↑ Buy
 GBP/USD1.2489Neutral
 USD/JPY127.86Neutral
 AUD/USD0.7039Sell
 USD/CAD1.2839↑ Buy
 EUR/JPY135.05Neutral
 EUR/CHF1.0296↑ Buy
 Gold1,845.10↑ Buy
 Silver21.765↑ Sell
 Copper4.3042↑ Buy
 Crude Oil WTI110.35↑ Sell
 Brent Oil112.91↑ Sell
 Natural Gas8.058↑ Sell
 US Coffee C216.48↑ Buy
 Euro Stoxx 503,657.03↑ Buy
 S&P 5003,901.36↑ Buy
 DAX13,981.91Buy
 FTSE 1007,389.98Neutral
 Hang Seng20,717.24↑ Sell
 Small Cap 20001,773.27↑ Buy
 IBEX 358,484.50Neutral
 BASF48.850Buy
 Bayer63.74Buy
 Allianz195.58Buy
 Adidas172.80Buy
 Lufthansa6.852↑ Sell
 Siemens AG115.08Neutral
 Deutsche Bank AG9.362Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,875/ 6,975
(6,875/ 6,975) # 1,795
SJC HCM6,895/ 6,985
(0/ 0) # 1,800
SJC Hanoi6,895/ 6,987
(0/ 0) # 1,802
SJC Danang6,895/ 6,987
(0/ 0) # 1,802
SJC Nhatrang6,895/ 6,987
(0/ 0) # 1,802
SJC Cantho6,895/ 6,987
(0/ 0) # 1,802
Cập nhật 22-05-2022 11:32:47
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Sản phẩmVùng 1Vùng 2
RON 95-V30.58031.190
RON 95-III29.98030.570
E5 RON 92-II28.95029.520
DO 0.05S26.65027.180
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Dầu hỏa 2-K25.16025.660
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.000,0023.310,00
EUR23.879,5425.217,23
GBP28.128,1029.328,16
JPY176,49186,84
KRW15,8019,26
Cập nhật lúc 11:29:53 22/05/2022
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