El Salvador’s Continued Bitcoin Endorsement Post-Vice Presidential Election
Felix Ulloa, the vice president of El Salvador, rejected requests from the International Monetary Fund (IMF) to rethink Bitcoin’s legal tender status during President Nayib Bukele’s second term in office.
Ulloa underlined the government’s support for cryptocurrencies, noting as evidence the recent approval of Bitcoin-related exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission.
[REUTERS] El Salvador will stay committed to bitcoin after election -vice presidenthttps://t.co/AqJ0aQ4FfD
— PhoenixNews.io (@PhoenixNews_io) February 1, 2024
El Salvador, which became the first nation to accept Bitcoin as legal cash in September 2021, intends to move forward with plans to establish Bitcoin-backed bonds and create Bitcoin City. El Salvador maintains its pro-Bitcoin position despite the IMF’s ongoing reservations, which may have an impact on public opinion of the cryptocurrency.
Robert Kiyosaki Advocates for Bitcoin as a Safeguard Against Fiscal Misconduct
Robert Kiyosaki, the well-known author of “Rich Dad Poor Dad,” revealed that he keeps Bitcoin as insurance against the “theft of our wealth via our money.” Kiyosaki accused Wall Street bankers, the government, and the Federal Reserve of stealing money through stock market manipulation, taxation, and inflation.
He expressed mistrust for fiat money and stressed the need to invest in and save Bitcoin as a safety measure. As a frequent critic of the US economy and the USD, Kiyosaki views gold and silver as “God’s money” and Bitcoin as “people’s money.”
Why I own Bitcoin. Bitcoin is protection against the theft of our wealth via our money. Fed Chairman Powell, Treasury Secretary Yellin, and Wall Street bankers steal our wealth via our money, specifically via inflation, taxation, & stock price manipulation. That is why I save…
— Robert Kiyosaki (@theRealKiyosaki) January 31, 2024
He acknowledges that he doesn’t know a lot about Bitcoin, but he still thinks it’s valuable and in a previous comment he said it would reach $150,000. His support might lead to a rise in the use of Bitcoin among his fans and the general public.
US Crypto Mining’s Energy Consumption Under Scrutiny Amid Bitcoin’s Surge
The energy usage of cryptocurrency miners is being subject to an emergency examination by the U.S. Department of Energy (DOE), which mandates that they report on their usage for the following six months.
The poll is to comprehend and address the possible increase in cryptocurrency mining activities and its impact on electricity usage, which has been prompted by a recent spike in the price of Bitcoin.
The Energy Information Administration (EIA) of the DOE will gather information and feedback from the general public while concentrating on the energy demand development for bitcoin mining, pinpointing regions with rapid expansion, and estimating the sources of electricity.
This action is a component of the U.S. government’s continuous efforts to control and comprehend the cryptocurrency mining sector, tackling issues related to energy usage and environmental effects. The effect on Bitcoin pricing is contingent upon prospective regulatory measures arising from the review.
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