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Author: Admin | 2025-04-28
CriticismWhile the plan has generated excitement, it has also faced criticism from environmentalists. Some argue that geothermal energy may not be enough to support the high energy demand of large-scale Bitcoin mining. However, despite these concerns, foreign companies are showing interest in the country’s volcanic resources.In June 2023, Tether, a major player in the cryptocurrency world, announced its involvement in a $1 billion investment in Volcano Energy, a company building a 241 MW renewable energy generation park in Metapan.El Salvador’s Growing Bitcoin Stash: A Market WinThe proposal comes at a time when El Salvador’s Bitcoin holdings are seeing impressive gains. The country currently holds over 6,000 BTC, with unrealized profits of more than $168 million.Since making Bitcoin legal tender in 2021, El Salvador has been steadily building its Bitcoin reserves, positioning itself as an influential player in the cryptocurrency market.FAQsHow much is El Salvador bitcoin worth?El Salvador’s Bitcoin holdings are currently worth around $200 million, based on recent market prices, but this fluctuates with Bitcoin’s volatility.Did El Salvador pay off debt with bitcoin?Yes, El Salvador used Bitcoin as part of its strategy to pay off debt, including a $800 million bond redemption in 2023, leveraging Bitcoin’s price appreciation. We'd Love to Hear Your Thoughts on This Article!Was this writing helpful?
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