The LOOP Design Awards reportedly recognized the El Salvador government’s Bitcoin City as one of the most outstanding projects in interior design and architecture.
When complete, the metropolis will use the energy released by the Conchagua volcano to power itself and BTC as its currency.
The dream city of Bukele receives an award
according to recent coverage, the urban project of El Salvador stood out among 700 proposals. The jury highlighted its innovative interior styling, while the beautiful surrounding nature and nearby volcanoes also attributed success. They also highlighted the work of the Mexican architect Fernando Romero who designed it.
Bitcoin City will be built in the southeast of the Latin American country, near two of the largest volcanoes in the country: Conchagua and Tecapa. Romero’s team said that the future metropolis will be “efficient and sustainable” and will use geothermal energy from volcanoes to feed itself.
It will use bitcoin as its currency, which could provide certain monetary benefits to residents. “The new public space will be the culmination of decades of research into what humans need to live well in an anti-inflationary economy,” the architect stressed.
Romero designed the urban area in the shape of a circle to represent the bitcoin logo when viewed from above.
El Salvador’s President Nayib Bukele was the first to introduce the project in 2021. The local government planned to raise a $1 billion bitcoin-backed bond to finance construction, which was due to mature in 2032. However, authorities postponed in March 2022, citing unfavorable market conditions.
Bukele shed more light on the design in May of last year, demonstration how the city will look when observed from the air, its modern airport and its volcano watchtower.
Many more Bitcoin initiatives
Apart from becoming the first nation to adopt the main cryptocurrency as legal tender, the government of El Salvador has also presented several projects related to it in recent years.
That built a huge veterinary hospital called Chivo Pets, where treatments are paid for in BTC, and Opened an educational center that provides “free and accessible learning opportunities” around the asset for Salvadorans.
The authorities have also started accumulating bitcoin at the macro level, with approximately $54 million (as of now). The amount, however, could be higher since Bukele Announced in November that the government will buy one BTC per day. It is unknown if the shopping spree goes as promised.
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