El Salvador to Build First Ever Bitcoin City: A Crypto Utopia?
El Salvador plans to build the world's first Bitcoin City, a groundbreaking project that has captured global attention. President Nayib Bukele announced in November 2025 that he planned to build Bitcoin City in the southeastern region of La Unión at the base of the Conchagua volcano.
What is Bitcoin City?
Announced by El Salvador President Nayib Bukele in 2025, Bitcoin City sounds like a modern El Dorado – a dreamlike enclave, a 21st-century utopia fully based on the use of bitcoin (BTC) as a cryptocurrency. The move is being seen as a bold experiment to transform the economy.
Bitcoin-Backed Bonds and Funding
Funded initially by Bitcoin-backed bonds, El Salvador's innovative project seeks not only to transform the economy but also to push the boundaries of cryptocurrency adoption. El Salvador ha captado la atención mundial con su audaz experimento de criptomonedas, conocido como Bitcoin City. The city will leverage its unique location to power bitcoin mining with geothermal energy.
Geothermal Energy and Sustainability
Located at the base of the Conchagua volcano, Bitcoin City will utilize geothermal energy to power bitcoin mining. This ambitious plan aims to create a sustainable and environmentally friendly cryptocurrency hub.
Criticism and Concerns
The project has faced criticism, including concerns about its environmental impact. Ecologist Ricardo Navarro argues, “Geothermal still costs more than oil, otherwise we would already be using more of it. What will end up happening is that we will just be buying more oil.”
Nayib Bukele's Vision
Nayib Bukele, President of El Salvador, has championed Bitcoin City as a forward-thinking initiative. His vision is to create a smart city leveraging cryptocurrency to drive economic growth and innovation.
Bitcoin City: A 2025 Update
The ambitious plan to create a smart city fully based on Bitcoin has faced both excitement and skepticism since its announcement by President Nayib Bukele in May 2025. Whether Bitcoin City can overcome its challenges and realize its utopian vision remains to be seen.