Why El Salvador’s Bitcoin experiment is stumbling one year on

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A year after El Salvador adopted Bitcoin as legal tender, the area where the world’s first cryptocurrency city was meant to be built – a circular metropolis powered by a volcano – is still dense jungle. President Nayib Bukele had promised that “Bitcoin City” would be a tax haven for crypto investors and miners equipped with an airport, residential and commercial areas, and a central plaza designed to look like a Bitcoin symbol from the sky. “Invest here and make all the money you want,” he said dressed all in white and wearing a reversed baseball cap, in front of hundreds of Bitcoin enthusiast…

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