Max Keiser predicts Bitcoin revolution for El Salvador under President Bukele in his second term
Nayib Bukele started his second term as President of El Salvador yesterday, continuing his administration's pioneering efforts in cryptocurrency adoption. Since September 2021, As a reminder, in his first term, Bukele has reaffirmed his commitment to purchasing one BTC daily into a cold wallet until the cryptocurrency can no longer be technically acquired.
In this scenario, the President will propose initiatives that the public can fund through crowd-sourcing, effectively reinventing the social contract and operating the nation on a circular BTC-focused economy.The President will pitch them ideas and they will crowd-fund what they like. The social contract will have been re-invented…He also sees El Salvador becoming debt-free and using its geothermal and volcanic energy to power Bitcoin mining, aiming to control 10% of the global hash rate.
The country has already made significant progress in this direction, using geothermal energy from the Tecapa volcano to mine 473.5 BTC, which is worth about $29 million. Of the 102 MW generated by the country’s power plants, 1.5 MW is dedicated to According to data from Arkham, El Salvador currently holds 5,718 BTC, worth about $400.26 million.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
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