The world's first bitcoin city will be built in El Salvador.
El Salvador's president, Nayib Bukele, shared the design of the first-ever cryptocurrency-funded city via tweet.
El Salvador became the first country to adopt Bitcoin as an official currency in September 2021.
The bitcoin city is being built next to the Conchagua volcano on the Gulf of Fonseca on the southern coast of El Salvador.
The proposed Bitcoin City will be designed by Mexican architect Fernando Romero (founder of architecture studio FR-EE).
The design shared by Bukele have depicted the landmarks of the golden city that would be built in plazas.
The city will be circular with residential and commercial areas and will have a central plaza designed to look like a symbol of Bitcoin from the air.
The Bitcoin city will be powered by geothermal energy from a volcano near the city and the same energy will also be used to mine bitcoin.
To finance the Bitcoin City project, El Salvador will issue a $ 10 billion bond that will pay for the construction of the city.
Half of the bond money will be reinvested in Bitcoin.