Max Keiser: Bitcoin may transform gold mining
@maxkeiser: El Salvador's Bitcoin-backed gold mining
El Salvador is pioneering a groundbreaking economic strategy, utilizing its Bitcoin reserves to transform traditional gold mining.
According to Max Keiser, the country could potentially mine its gold 'virtually free' by leveraging over $600 million in Bitcoin as collateral for fiat-based mining loans. This innovative approach promises to drastically reduce El Salvador's gold mining costs, pushing them down 'the asymptotic curve toward zero.' Such a strategy, if successful, could revolutionize resource extraction economics, highlighting Bitcoin's potential as a financial lever in national economic planning.
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In the previous news, Max Keiser discussed a hypothetical scenario where aliens may be interested in Bitcoin, prompting a broader conversation on maintaining crypto security in unconventional ways.
