Bitcoin City Project in El Salvador is on Hold

El Salvador is on hold for the vision of inaugurating a Bitcoin (BTC) City . As we know, El Salvador has been one of the most positive nations when it comes to accepting the crypto industry in its economy. They have even made Bitcoin a legal currency, which shows that they truly believe in cryptocurrencies .


El Salvador wishes to found a Bitcoin city

Along with the acceptance of Bitcoin as legal currency , the country also showed plans to found a Bitcoin City . Where residential and of course commercial areas such as ports, restaurants, airports and even a railway service will be taken into account.

The city presented a circle reminiscent of a currency and the possible vision where people used it as a cryptographic medium without taxes, property or large capital gains.

Despite the overall positives of the plan, residents of La Unión showed mixed emotions about the plans. They know that the new investment will help their economy grow, but it is not clear whether the government will keep its promises.

It has been noticed that the crypto market has been conclusive for many industries recently. You can distinguish platforms such as the crypto online club or even sports betting platforms distributed on the Internet. Founding a Bitcoin city will be amazing progress for the market , but unfortunately, it has been put on hold for now.

Many believe that La Unión will be an important city in Bitcoin

The Union retains strong potential. Structure and space are essential when founding a city of this type, La Unión has both. Even the companies in the area have agreed that sites like Bitcoin City will also be of great potential for the country’s economy.

The manager of the shoe store franchise in La Unión Par2, Amilcar Alvarado, said that all his colleagues were positive about the new news. The express:

“Here, in La Unión, there is little trade. La Unión needs more places like Bitcoin City to create a strong economy and La Unión needs to change, as seen in the city of San Salvador. More places should be created to visit since in La Unión it only has the bay and certain shops”

People hope that La Unión will be helped with the creation of a Bitcoin City , although they also hope that the rest of the country and even the world can possibly help them develop and be a great power like other countries. The port there is known to be used sparingly, which figures that Bitcoin City will favor La Union to be a powerful city.

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The dollar is still the main currency in El Salvador

Although Bitcoin has been accepted as legal currency in El Salvador, but the US dollar is still the main currency in the country. This has affected the Bitcoin City projects as there is a possibility that it will not happen soon.

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