El Salvador Focused on Bringing Investment to Bitcoin City, Ambassador Says

The Salvadoran official noted that the government is looking to attract more investment to his Bitcoin city with special incentives for companies that invest early .

El Salvador, which became the first country to make Bitcoin (BTC) legal tender in September last year, is currently focused on building a Bitcoin city. There have been several delays and disruptions to the plans since its announcement last year due to the bear market-induced investment drought and geopolitical tensions.

Cointelegraph reporter Joseph Hall reached out to Héctor Enrique Celarié Landaverde, El Salvador's Deputy Ambassador to the Kingdom of the Netherlands, to get some insight into the country's progress with his high-profile project.

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Landaverde told Cointelegraph that the government follows a “first come, first served” principle, whereby companies that are ahead of their investment will get better profits. He explained:

"El Salvador's dream is to have a Bitcoin City and from there make our society bigger and stronger. We are trying to attract more and more investment to this region so that we can develop these communities. »

The Deputy Ambassador noted that the use of BTC in the country has definitely had an impact. He also invited people in the country to see for themselves how BTC is changing lives.

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The iconic Bitcoin City was announced in November last year; it would be partly funded by the...