As you probably know by now, El Salvador has become one of the most important and strong Bitcoin and crypto supporters. Check out the latest reports about how it managed to thrive amidst the difficult times in which we are living these days, with all the geo-political tumult that is happening.
El Salvador is in the spotlight again
Here is a relevant tweet below that shows the results of the massive efforts that the country has been making in terms of supporting the people and the planet as well.
the world 🌎 going into energy crisis and meanwhile El Salvador 🇸🇻 is going into energy abundance@nayibbukele opening the new hydropower plant and announcing 14% reduction in energy prices#Bitcoin country 💪 pic.twitter.com/Atorl98qAD
— lukas ⚡️🧘🏻♂️ (@duczko) October 19, 2023
Here’s what the president said:
“Today we are at a hydroelectric power plant, this is the El Chaparral Dam that, as we all know, was surrounded by a lot of corruption. It had to be delivered in 4 years but nothing was ever made. They only left a hole and took millions of dollars.”
“Hoy estamos en la Central Hidroeléctrica 3 de Febrero, esta obra conocida como Presa El Chaparral que como todos sabemos, estuvo rodeada de mucha corrupción. Tenía que entregarse en 4 años pero nunca se avanzó en nada. Solo dejaron un hoyo y se llevaron millones de dólares”,… pic.twitter.com/eNsRA8zEpJ
— Casa Presidencial 🇸🇻 (@PresidenciaSV) October 19, 2023
El Salvador has become a nation in the crypto spotlight for a while now, with its president supporting Bitcoin and giving people the opportunity to use the digital asset and understand it as well.
El Salvador in the news
Back in August, we were revaling important info on the BTC adoption in Argentina.
According to a note sent to investors by David Puell, a research associate at Ark Invest, Bitcoin adoption in El Salvador is not as high as it is in Argentina.
Although El Salvador made headlines this year for granting legal tender status to Bitcoin, Puell suggests that the nation’s actual use of the cryptocurrency is a mixed picture.
We suggest that you check out the original article that we shared back then in order to learn more details about all this.
