Bitcoin City

La Unión, El SalvadorNew CityAnnounced

A proposed coastal city announced by the government of El Salvador, designed to be powered by geothermal energy from the Conchagua volcano and funded through bitcoin-backed bonds.

Last verified: 2026-05-01Submit a correction →Visit site

Founded

2021

Status

Announced

Operating entity

Government of El Salvador (sovereign project); bond issuer LaGeo (state-owned geothermal/power company)El Salvador[src]

Total funding

$1Bas of 2021 announcement[src]

Population

0current / target

Founders & Leadership

Nayib Bukele[src]
President of El Salvador; project announcer/champion
Samson Mow[src]
Blockstream; advised on Volcano Bond design

Funding

Total raised: $1B (as of 2021 announcement)[src]

Planned $1B 'Volcano Bond' (10-year, 6.5% coupon) — issuance repeatedly delayed. Estimated total infrastructure cost ~300,000 BTC (~$17–18B at announcement).

Investors

Government of El Salvador (via LaGeo)
Government
Bitfinex Securities
Firm[src]
Blockstream
Firm[src]

How to join

Adopting El Salvador / Freedom Visa program
Citizenship
Citizenship-by-investment program approved December 2023 for $1M+ Bitcoin contributions.
Cost: USD 1M+ Bitcoin contribution; 1,000 passports/year
Standard residency
Residency

Goals

Tax haven (only VAT); 100% geothermal-powered (Conchagua volcano); circular city design; Bitcoin mining and financial center.

Press

CNN · 2021-11-21El Salvador plans first 'Bitcoin City', backed by bitcoin bonds
Al Jazeera · 2021-11-21El Salvador to build first 'Bitcoin City', backed by BTC bonds
Global Finance MagazineEl Salvador Bitcoin Volcano Bonds

Official channels

Website

Unverified or unconfirmed

links.website (dedicated), links.twitter, links.instagram, current construction status, fundingRounds (final bond issuance). Have a correction? →