**El Salvador's President Pushes Forward with Cryptocurrency in Second Term**

Nayib Bukele, the President of El Salvador, is doubling down on cryptocurrency adoption as he begins his second term. Since September 2021, Bitcoin has been an official currency in the country. Bukele continues his commitment to buy one Bitcoin daily, storing it securely.

Max Keiser, a well-known Bitcoin advocate and advisor to Bukele, has big plans for El Salvador. He envisions a future where the nation's wealth is managed by its citizens through decentralized Bitcoin nodes. This approach would allow the public to fund government initiatives via crowd-sourcing, creating a new, Bitcoin-based economic model.

Keiser also aims to make El Salvador debt-free by harnessing its geothermal and volcanic energy for Bitcoin mining, targeting control of 10% of the global hash rate. Already, the country uses geothermal energy from the Tecapa volcano to mine Bitcoin, producing 473.5 BTC, worth about $29 million. Of the 102 MW generated by its power plants, 1.5 MW is dedicated to Bitcoin mining.

El Salvador currently holds 5,718 Bitcoin, valued at around $400.26 million. Keiser believes this strategy will reduce the influence of central banks and make institutions like the IMF less relevant to the country's economy.

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