“The possibilities are endless here, it’s just about willpower and that we have the means and the ability to start these projects,” Daniel Alvarez, president of the state-run Lempa River Hydroelectric Executive Commission (CEL) revealed on Friday, stating that El Salvador has resources to generate electricity for the mining process …
Read More »Crypto-friendly El Salvador mines first bitcoin with energy from volcanoes
The mining operation, run by the state-controlled energy company LaGeo SA de CV, managed to generate 0.00599179 bitcoin, or about $269, using geothermal power from volcanoes, Bukele tweeted. Earlier this week, the president shared on Twitter a video of government-branded shipping containers carrying digital-currency miners to an energy facility in …
Read More »Bitcoin crashes as El Salvador’s world-first adoption gets off to bumpy start
The price of bitcoin dropped as much as 16% to around $43,100 after breaking through $52,000 late Monday. The cryptocurrency has managed to rebound since then, and was last down over 13% to trade at $45,512. The fall has been attributed to a technological glitch that forced El Salvador’s government …
Read More »Why is El Salvador on course to be one of the fastest-growing economies in the world? Keiser Report explains
Max and Stacy discuss what will all of this mean for the country’s economy as a whole.
Read More »El Salvador buys its first bitcoin lot on eve of becoming first country to adopt the cryptocurrency as legal tender
“El Salvador has just bought its first 200 coins,” Bukele said on Monday afternoon. “Our brokers will be buying a lot more as the deadline approaches.” Several hours later, Bukele revealed that El Salvador bought another 200 coins, increasing its cryptocurrency stake to 400 bitcoins. Bitcoin’s market price rallied on …
Read More »Bitcoin rallies after El Salvador adopts the crypto as legal tender
The cryptocurrency is still significantly off from its record high of $64,829.14 that was reached in April. The bill that has been passed in El Salvador will mandate all businesses to accept bitcoin for goods or services, but the government will act as a backstop for entities that aren’t willing …
Read More »El Salvador wants to power crypto mines with ‘100% cheap, renewable’ VOLCANO energy, after adopting bitcoin as legal tender
On Wednesday, Bukele tweeted that he had instructed the state-owned geothermal electric company LAGeoSV to power bitcoin mines with “very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos.” “This is going to evolve fast!” he added. Indeed, just a couple hours later, Bukele tweeted a video of …
Read More »El Salvador’s brave and bold bitcoin gamble offers a glimpse of a post-US dollar future
On Tuesday night, the parliament of El Salvador made an extraordinary move, passing a law which would make the cryptocurrency bitcoin a legal tender. The Latin American nation is the first country in the world in any capacity to do so. The president of the country, Nayib Bukele, has argued that …
Read More »‘Shot heard ’round the world’: El Salvador aims to become first nation to adopt bitcoin as LEGAL TENDER, may set global precedent
A bill enabling El Salvador to recognize bitcoin as legal tender will be submitted to the country’s Legislative Assembly next week, President Nayib Bukele said in a video message that was shown on Saturday at the Bitcoin 2021 conference in Miami. Bukele’s political party has firm control of the congress. …
Read More »MASSIVE blaze, EXPLOSIONS at a gas plant near a mall in El Salvador (VIDEOS, PHOTOS)
A massive fire combined with blasts has been filmed not far from the local Plaza Mundo mall, with authorities urging residents to avoid the area. The nearby shopping center has been evacuated due to initial threat of the blaze rapidly spreading beyond the gas plant’s territory. However, local fire department later announced that 15 firefighters …
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