El Salvador to build cryptocurrency-fueled ‘Bitcoin City’

  • El Salvador's President Nayib Bukele participates in the closing ceremony of a congress for cryptocurrency investors in Santa Maria Mizata, El Salvador, Saturday. Bukele announced during the rock concert-like atmosphere at the gathering that his government will build an oceanside "Bitcoin City" at the base of a volcano. (AP Photo/Salvador Melendez)

  • El Salvador's President Nayib Bukele participates in the closing ceremony of a congress for cryptocurrency investors in Santa Maria Mizata, El Salvador, Saturday, Nov. 20, 2021. Bukele announced during the rock concert-like atmosphere at the gathering that his government will build an oceanside "Bitcoin City" at the base of a volcano. (AP Photo/Salvador Melendez)

  • El Salvador's President Nayib Bukele participates in the closing ceremony of a congress for cryptocurrency investors in Santa Maria Mizata, El Salvador, Saturday, Nov. 20, 2021. Bukele announced during the rock concert-like atmosphere at the gathering that his government will build an oceanside "Bitcoin City" at the base of a volcano. (AP Photo/Salvador Melendez)

  • El Salvador's President Nayib Bukele participates in the closing ceremony of a congress for cryptocurrency investors in Santa Maria Mizata, El Salvador, Saturday. Bukele announced during the rock concert-like atmosphere at the gathering that his government will build an oceanside "Bitcoin City" at the base of a volcano. (AP Photo/Salvador Melendez)

  • El Salvador's President Nayib Bukele participates in the closing ceremony of a congress for cryptocurrency investors in Santa Maria Mizata, El Salvador, Saturday, Nov. 20, 2021. Bukele announced during the rock concert-like atmosphere at the gathering that his government will build an oceanside "Bitcoin City" at the base of a volcano. (AP Photo/Salvador Melendez)

  • FILE - A police officer from the mayor's office patrols near the Chivo digital wallet machine, which will exchange cash for Bitcoin cryptocurrency, right, in Las Americas Square in San Salvador, El Salvador, Sept. 7, 2021, the day when all businesses must start accepting payments in Bitcoin, except those lacking the technology to do so. (AP Photo/Salvador Melendez, File)

LA LIBERTAD, El Salvador — In a rock concert-like atmosphere, El Salvador President Nayib Bukele announced that his government will build an oceanside “Bitcoin City” at the base of a volcano.