El Salvador plans to build a Bitcoin city at the base of a volcano. Nayib Bukele, the President of the Central American country, has announced that the cryptocurrency will be used to fund the project. The new city will be circular to represent the shape of a large coin and will be built in the region of La Union. The site will take advantage of the Conchagua volcano’s geothermal energy to power Bitcoin mining. Addressing a raucous crowd at a promotional event at the weekend, Bukele promised that the planned new city would “include everything”. He said: “Residential areas, commercial areas, ser…

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