Will the dream of building a “Bitcoin City” in El Salvador end with the decline of cryptocurrencies?

The president of El Salvador has received heavy criticism from concerned citizens after investing millions of dollars of public funds on bitcoin in an effort to build a $1.4 billion bitcoin city, after the bitcoin market was in a big way.

The president’s attorney general decided to solicit a legal tender for the country’s cryptocurrency, buying about $100 million ($145 million) with the goal of raising $1.4 billion in foreclosed bonds in order to switch to bitcoin. The community will be built at the base of a volcano that will provide geothermal energy just as a source of energy for the Bitcoin revolution. ،

The president has made an investment of $200 million ($290 million) in a backed bitcoin wallet app, called Chivo. The app is now…

And it continued, and it kept showing up, and it kept showing up, and the emergence of a helping hand from the show called many into question the president’s intention with regards to Bitcoin. The smoldering domestic economic controversy. “We know exactly when or with what money they bought bitcoins,” Marocchi said in the documentary “Big Bitcoin Gamble from Big Bitcoin Gamble in El Salvador.” Are there a lot of questions about how to get more money? “Building a Bitcoin City in one of the most underdeveloped areas of the country.”

Had the BBC reported it earlier in January, the International Monetary Fund (IMF) urged El Salvador’s president, Neb Pokilito, to stop using bitcoin as a financial currency. The International Monetary Fund highlighted the “significant risks and use of bitcoin to financial stability, financial soundness, and consumer protection.” The International Monetary Fund stressed this decision will make it difficult to obtain a loan institution. El Salvador has become the first country to allow consumers to transact with crypto in all transactions, besides the dollar.

Despite this, in the romantic atmosphere that the president wants and the performance on bitcoin’s depreciation, El Salvador’s Minister of Tourism, Morena Valdez insists that citizens trust President Bukele’s decisions to one day offer the city of bitcoin. We know that the decision of the president’s decisions to be taken at the right moment, people have a lot of confidence in his decisions and in his decisions and the handling of the country’s economy. Wolf for “Valdez”.

Other countries in the world are reportedly considering taking steps like El Salvador. One of these countries is one of the most prolific that appeared in an issue earlier this year to make Bitcoin legal tender. The head of state, Faustin Arching Touadera, called the digital “global money” his announcement of the news on.

This year, considering, considering, considering, considering, considering, considering, considering, considering, marking, so far this year, the house currency has changed by -53.96%. In the two months alone, it lost nearly $1 trillion in value as investors abandoned higher risk in the face of rising concerns that interest rate hikes by central banks would hamper growth.

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