Until the middle of last year, most cryptocurrency mining took place in China. Then authorities pulled the plug. So Chinese bitcoin miners began moving their gear to U.S. towns like Kearney, Nebraska.
In the Web3 vision of the internet's future, tech giants like Facebook and Google aren't as critical. The internet instead is a peer-to-peer experience built on what's known as the blockchain.
A hamster named Mr. Goxx enters one of two tunnels in the his cage, which determines whether he will buy or sell. As of Friday, his portfolio is up nearly 20%, according to his Twitter account.
Advocates of Bitcoin, including President Nayib Bukele, say the policy that took effect Tuesday was historic. But the rollout was marred by technical glitches and some political opposition.
Bitcoin mining has taken a lot of heat for being harmful to the environment since it requires massive amounts of electricity to generate the invisible currency.
Weeks after setting a record high, the price for Bitcoin has fallen dramatically along with other cryptocurrencies over factors ranging from inflation to, yes, Elon Musk.