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El Salvador to Build New Stadium in Collaboration With China, Bukele Says
The president of the only country where bitcoin is legal tender tweeted the news on New Year’s Eve.
El Salvador will build a new national stadium in a collaboration with China, President Nayib Bukele said in a Spanish-language Twitter post on Friday.
- “This is a collaboration granted directly by President Xi and a sample of the friendship between the peoples of China and El Salvador,” Bukele tweeted in Spanish, referring to Chinese President Xi Jinping.
- The new stadium will have a seating capacity of 50,000, Bukele said in the tweet. It will be built in the current location of the country’s military school in Santa Tecla, which will be rebuilt elsewhere and have twice the capacity it has now. Bukele telegraphed the announcement in an earlier tweet.
- In September, El Salvador became the first – and so far only – country to designate bitcoin legal tender. “We must break the paradigms of the past,” Bukele said at the time. “El Salvador has the right to move toward the First World.”
- The decision has been criticized. The International Monetary Fund (IMF) in November said bitcoin shouldn’t be used as legal tender in El Salvador and urged the Central American country to strengthen the regulation and supervision of its newly established payment system.
STORY CONTINUES BELOW
Read more: Behind the Scenes of El Salvador’s Bitcoin Bond With the Man Who Designed It
Greg Ahlstrand
Originally from California, I've been Asia-based since 1999, headquartered in Hong Kong and Jakarta and traveling throughout the Asean countries, Japan, Korea, the Chinese mainland and Taiwan for stories. Made Australia a couple of times, too.
I started my journalism career as a news assistant at the Fresno Bee in Central California while studying the subject in school after the Navy. I went from launching and recovering helicopters on flight decks at sea to recovering papers fresh off the printer in the Bee's basement and launching them onto the editors' desks, whose editors had long since gone home for the night. Eventually, they let me stop delivering the paper and start writing stuff in it. My first beat was night cops: liquor store robberies, gang shootings, fatal car crashes (almost always alcohol related). It was an education.
I am, as implied above, a U.S. Navy veteran. I served in seagoing helicopter squadrons as an aviation anti-submarine warfare technician throughout the Asia Pacific region and the Indian Ocean. I have a significant number of sailor stories to tell. I have no significant crypto holdings.
Among my hobbies are welding, building stuff, home remodelling, (or knocking a house down and starting from scratch if it's too far gone to fix), riding horses and rebuilding old tractors. So far I've done a Ford 8N and a Ford 9N. It's slow going, because I live in Hong Kong and the tractors are in California, so I only get to work on them once or twice a year, for a week or two at a time - and that was before covid.
I love my Lab, Cooper, whom my neighbors asked me to adopt two years ago when they moved back to Shanghai from Hong Kong. Cooper and I actually planned the whole thing -- we've known each other almost his whole life -- but his first parents are unaware of the conspiracy; and they send him Christmas presents every year.
