A small country in Central America, El Salvador, has frequently started to be mentioned for adopting Bitcoin. The country’s government is increasing the use of Bitcoin day by day and is signing new projects, and it explained its Bitcoin plans with a comprehensive video released.
For a year now, the El Salvador administration, which has been a topic of discussion worldwide, continues to hold on to their Bitcoins steadfastly. Along with the rise in BTC prices, it seems that the El Salvador government is in a profitable position.
It is thought that the expected profit from the sale of the country’s Bitcoins will not materialize; so far, the return on the investment made is only an extra 7 million dollars.
In the promotional video released by the El Salvador government, there are extensive explanations about the country’s approach to Bitcoin, how new Bitcoins are acquired, how the country’s citizens perceive Bitcoin, and the country’s plans.
These statements were shared with the world by the government at three points: With the addition of the Dollar as a currency alongside Bitcoin, thousands of Bitcoin enthusiasts from all over the world flocked to the country, which turned into significant economic income. The country’s citizens have already begun using Bitcoin, referred to as “the money of the future,” and thanks to Bitcoin, thousands of people without access to banking services have gained access. Furthermore, through Bitcoin mining, the government is creating additional sources of economic income and for this purpose is utilizing the geothermal energy from the country’s volcanoes.