El salvador

The madness of El Salvador’s Bitcoin city

A golden city on the coast of the tropical Pacific. A metal walkway suspended above a verdant volcano. And a glossy marina that looks like it belongs in Monte Carlo rather than a near failed-state besieged by some of the world’s most violent criminals. The detailed gilded model released this week of ‘Bitcoin city’ – the first ever dedicated cryptocurrency trading hub, to be built on El Salvador’s western shore and powered by geothermal energy from a volcano – is nothing if not spectacular. The grandiose project is the brainchild of the troubled Central American nation’s headline-grabbing populist president, Nayib Bukele, arguably now the world’s foremost cryptocurrency evangelist after foisting