Short on cash, El Salvador doubles down on Bitcoin dream

A representation of the cryptocurrency is seen in front of Bitcoin logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

BERLIN, El Salvador (Reuters) - James and Nicki Malcolm moved to El Salvador from New Zealand to be part of a bitcoin dream sold by President Nayib Bukele in 2021 when he made the Central American nation the first in the world to accept the cryptocurrency as legal tender.

Months later Bukele sketched his plans for Bitcoin City, a tax-free crypto haven powered by geothermal energy from a volcano, to a sea of enthusiasts at a beach club presentation that included an avatar of himself on a spaceship.