In an exciting development for cryptocurrency enthusiasts, reports from Criptonoticias and other domestic media outlets have confirmed that constructing an airport in El Salvador is moving forward with the ambitious Bitcoin City project. President Nayib Bukele’s vision of a Bitcoin-powered settlement at the base of a volcano is becoming a reality, where geothermal energy will not only power the city but also facilitate Bitcoin mining. Despite initial doubts and rumors, recent progress in the airport construction signals that Bukele’s BTC dreams are very much alive.
Construction Progress and Concerns:
According to local reports, heavy machinery is now actively involved in earth-moving activities at the construction site. The Autonomous Executive Port Commission (CEPA) has allocated an initial budget of $73 million for the project, while the estimated total airport cost is approximately $350 million. Despite the positive developments, concerns have been raised by community members living in the area, who claim that the construction is adversely impacting the local flora and fauna. These concerns have prompted discussions about relocating at least 52 families residing in the vicinity.
Bitcoin City and Airport: Sister Projects:
President Bukele’s government has highlighted the interconnected nature of the Bitcoin City and airport projects, unveiled simultaneously. The mastermind behind their designs is renowned Mexican architect Fernando Romero. The government intends to finance these long-awaited ventures by issuing Bitcoin bonds. This process has faced delays but is expected to take place this summer, according to a senior Bitfinex executive.
BTC Adoption Plans and International Scrutiny:
While El Salvador continues to embrace Bitcoin and its legal tender status, concerns have emerged from U.S. senators regarding President Bukele’s BTC adoption plans. These senators have called for a comprehensive risk report to evaluate the potential implications of El Salvador’s cryptocurrency-driven policies. Nonetheless, the government’s determination to push forward with Bitcoin City and the airport construction underscores its commitment to realizing Bukele’s vision.
El Salvador’s ambitious project to construct a Bitcoin-powered city at the base of a volcano is taking shape, accompanied by the progress in building an airport. The government’s allocation of funds and commencement of construction work reflect President Nayib Bukele’s unwavering dedication to integrating Bitcoin into the nation’s infrastructure. As El Salvador strives to navigate potential environmental concerns and international scrutiny, the realization of Bitcoin City and the airport marks a significant milestone in the country’s pursuit of digital innovation and economic growth.
Source: https://bitcoinworld.co.in/el-salvadors-bitcoin-city-and-airport-construction-move-forward-igniting-controversy/