Crypto millionaires are reportedly showing great interest in the Bitcoin City of El Salvador.
Crypto millionaires show great interest in Bitcoin City, which was announced by El Salvador’s President Nayib Bukele in November 2021. It offers five times what investors would normally pay for land around the area planned for the city.
Crypto Millionaires Flock to the City
As it is known, the city plans to generate geothermal energy from the volcano and use it for BTC mining. The city’s currency will be Bitcoin, and residents will only have to pay taxes on goods and services. Once built, the city will be one of the largest crypto-friendly jurisdictions with flexible regulations, little government oversight, and minimal taxes. This causes crypto millionaires to show great interest in the city.
Investors have already started offering large sums of money for plots around Conchagua, which is planned to be Bitcoin City. Luis Diaz, owner of a resort called El Espíritu de la Montaña, claims to have received offers between three and five times what he paid for the land on which the resort is located.
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