El Salvador can’t find resources to build a bitcoin city

The authorities of El Salvador, known for its special attitude toward the country’s flagship cryptocurrency, cannot find enough investment to build Bitcoin City.

According to Hector Enrique Celarie Landaverde, Deputy Ambassador of El Salvador to the Netherlands, the country’s government adheres to the principle of primacy in investment issues — people who invested in Bitcoin City at the initial stage of its construction have a better chance of making a big profit. However, El Salvador currently needs more people and their financial resources to continue the construction of the Bitcoin City.

«El Salvador’s dream is to create a bitcoin city and then make our society bigger and stronger. We are trying to attract more and more investments,» Landaverde explained. The Bitcoin city project was presented back in May this year. At the same time, it was reported that Bitcoin city would be built in the form of a huge hexagon, around which parks and the necessary infrastructure would be located.

In early September, it became known that in addition to the Bitcoin City, El Salvador will have a Bitcoin beach, for the construction of which $ 203 million has already been allocated. According to El Salvador’s President Nayib Buchele, a shopping center, a parking lot, a beach club, and a sewage treatment plant will be built in the La Libertad region, and the bitcoin beach will cover about 15,000 square meters. In this way, the country seeks to maintain the interest of tourists, as the recognition of CTS as a legal tender in El Salvador has contributed to an increase in the flow of foreigners to the country.