El Salvador President Nayib Bukele chose to generate a Bitcoin (BTC) bubble using natural energy sources from volcanoes.
According to his tweet, which was uploaded at midnight local time, the effort will be made possible with the cooperation of the geothermal power firm, LaGeo.
I've just instructed the president of @LaGeoSV (our state-owned geothermal electric company), to put up a plan to offer facilities for #Bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos 🌋
This is going to evolve fast! pic.twitter.com/1316DV4YwT
— Nayib Bukele (@nayibbukele) June 9, 2021
The idea was suggested when Bitcoin (BTC) income was still closely related to the issue of environmental pollution due to the high use of electric power and uncontrolled carbon release.
Bukele believes that this method is cheaper and 100% friendly to nature.
Geothermal energy is heat generated from the lower layers of the Earth so that it reaches magma. Excavation methods need to be used to access steam and hot water to drive turbines using electric generators.
In the latest update, LaGeo has succeeded in excavating a new lake that produces around 95MW of geothermal power.
El Salvador has caught the attention of the world after being the first country to accept Bitcoin (BTC) as a legal tender. In the three months before becoming El Salvador's official currency other than the dollar, Bukele hopes that after this the people will prioritize Bitcoin and the dollar as a reference currency.
In fact, it is not impossible after this that more crypto firms will move to the country to escape the clutches of the powerhouses like the crypto sector in China.
