LIVE### Max Keiser Predicts Bold Future for Bitcoin Under El Salvador’s President
**U.Today** - Nayib Bukele began his second term as President of El Salvador yesterday, continuing his groundbreaking efforts in cryptocurrency adoption. Since September 2021, Bitcoin has been recognized as legal tender in the country.
During his first term, Bukele committed to buying one Bitcoin daily, storing it in a cold wallet until it becomes technically impossible to acquire more.
### Vision for Citizen-Controlled Wealth
Max Keiser, a prominent Bitcoin advocate and advisor to Bukele, has outlined an ambitious vision for El Salvador's future under Bukele's leadership. Keiser envisions citizens gaining greater control over the nation's wealth through decentralized Bitcoin nodes.
### Innovative Economic Initiatives
In this vision, President Bukele will introduce initiatives that the public can fund through crowd-sourcing, creating a new kind of social contract and establishing a circular Bitcoin-based economy.
### Renewable Energy and Bitcoin Mining
Keiser also foresees El Salvador becoming debt-free and utilizing its geothermal and volcanic energy to power Bitcoin mining, with a goal of controlling 10% of the global hash rate.
The country is already making strides in this direction. Geothermal energy from the Tecapa volcano has been used to mine 473.5 BTC, worth approximately $29 million. Out of the 102 MW generated by the nation’s power plants, 1.5 MW is allocated to Bitcoin mining.
### Reducing Central Bank Influence
According to Arkham, El Salvador currently holds 5,718 BTC, valued at around $400.26 million. Keiser believes this innovative approach will diminish the influence of central banks and reduce the relevance of international financial institutions like the IMF in the country’s economic policies.
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