Miss El Salvador's Volcanic Empowerment Costume Highlights Nation's Bitcoin Mining Initiatives

According to CryptoPotato, the 2023 Miss Universe pageant's preliminary costume contest featured Miss El Salvador, Isabella García-Manzo, wearing a 'volcanic empowerment costume' inspired by the nation's signature volcanoes, which are being used by the government to mine Bitcoin (BTC). The costume, which included a massive crown depicting the sun and a bright orange dress that turned crimson and then charcoal, symbolized the rebirth of the country and the transformative power of nature and the human spirit. El Salvador has undergone significant changes in recent years, including making Bitcoin legal tender in 2021. Although the use of the cryptocurrency remains limited, its adoption has contributed to a doubling of the nation's tourism figures since 2019. In 2023, the Salvadoran government announced a major public-private partnership with Volcano Energy to invest $1 billion in sustainable Bitcoin mining. The initiative, backed by Tether, will allocate 23% of the revenue generated to the government and 50% to infrastructure development. So far, $250 million has been raised for the initiative, which will focus on wind and solar-based mining, with geothermal-based mining planned for the future. Last year, El Salvador's President Nayib Bukele pledged that the country would start purchasing 1 BTC per day, and since then, Bitcoin's price has more than doubled.