Nayib Bukele's government is now building Bitcoin City. This is new step of BTC development in El Salvador

For this new plan, Bukele has issued bitcoin bonds worth $1 billion. (issuance of bitcoin bonds is a unique initiative in itself).

In this new Bitcoin city there will be 10% VAT on everything for governance expenses, and no further taxes, not even capital gains or property tax. So this is going to be a cheap and income friendly region.

This news is going to be disliked by the proponents of cryptocurrencies other than bitcoin; however, we cannot deny the fact that bitcoin was the first cryptocurrency and is still on top today. The development of BTC will lead to the development of the cryptocurrency itself; so it is advisable to take it positively.