El Salvador made history when it became the first country to adopt Bitcoin as legal tender and now wants to mine it using renewable energy.
Salvadoran President Nayib Bukele made the announcement on Twitter yesterday.
The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress.
62 out of 84 votes!
— Nayib Bukele (@nayibbukele) June 9, 2021
As part of the process of adopting Bitcoin, Bukele wants to address one of its biggest criticisms, namely the impact Bitcoin mining has on the environment. Concerns over its environmental impact recentlycaused Tesla to reverse course and stop accepting the crypto as a form of payment.
Bukele is now looking at volcanoes as a possible, environmentally friendly, power source for Bitcoin mining.
Should El Salvador succeed in its efforts, it could well provide a template for other countries to adopt cryptocurrencies in a responsible, environmentally friendly way.