- El Salvador recently rolled out a nationwide Bitcoin education program.
- Both internal and international tourism levels skyrocketed.
- Nayib Bukele takes Bitcoin’s price slump as a buying opportunity.
El Salvador, the small Latin American nation that became the first country to accept Bitcoin (BTC) as legal tender, has outlined plans for the New Year of Black Rabbit, with the next Bitcoin Beach event at El Zonte coming on 30th, January 2023.
The Bitcoin event was announced by Bitcoin maximalist Stacy Herbert and will kick off at 7 PM local time. According to Herbert’s warm invitation, there’s a lot to look forward to:
“Come join us in Bitcoin Beach for surfing, sushi, margaritas and Cuban Jazz.. and lots of Bitcoin conversation”.
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Book your flights for El Salvador! Monday, 30 January at 7pmMax & Stacy are back at @GartenZonte in El ZonteCome join us in Bitcoin Beach for surf, sushi, margaritas and Cuban jazzAnd lots of bitcoin conversationFollow @OrangePillParty for details https://t.co/09sBIporxD pic.twitter.com/7ElTiVU5ZD— Stacy Herbert (@stacyherbert) December 28, 2022
Max Keiser and the Volcano Bonds
Max Keiser is the BTC Evangelist who wrote several books about his Bitcoin journey, described as “relentless optimism in the age of Bitcoin.” Interestingly, the filmmaker, broadcaster, and journalist received El Salvadoran citizenship and became one of the top stars of the Bitcoin Beach in El Zonte. Keiser and his wife Stacy Herbert started the Orange Pill Party, spreading awareness about Bitcoin and blockchain tech’s overall benefits for society.
The crypto couple has been involved in Bitcoin Lightning education events around El Salvador, sponsored by Pro-Bitcoin President Nayib Bukele. The Bitcoin-loving Bukele drew up plans for a Golden Bitcoin City with a volcano as the centerpiece. Soon after, Keiser became obsessed with the idea, as El Salvador could be the first crypto hub in the world powered by Bitcoin. Ultimately, the Volcano bonds backed by BTC would bring many investors to El Salvador and increase adoption.
“The antidote to censorship and extreme censorship has always been art and extreme art. Bitcoin is the most extreme art possible, immune to any censorship.”⁰⁰— Max Keiser#BTC $16,524 https://t.co/vMUrHVS2LW pic.twitter.com/ojb45VSu1P— El Psycho Brandon Martin “F**K INSLEE” (@elbrandonmartin) December 30, 2022
El Salvador Still Getting Used to BTC
Indeed, Bitcoin Lightning technology enables the unbanked people of El Salvador to pay their bills without taking a lengthy bus journey. At the same time, international tourism levels skyrocketed due to the Bitcoin Beach and the country’s positive stance on crypto. Unfavored by the mass media, Mr. Bukele agrees with Max Keiser’s definition of Bitcoin’s power:
“Bitcoin is the most extreme art possible, immune to any censorship.” However, recent research reveals that the Chivo app released by Nayib Bukele’s government didn’t stick to the public or businesses. Most users rushed to sign up for the mobile app to obtain the $30 bonus, equal to three working days for an average El Salvadorean.
As the president continues his audacious crackdown on gangs, fosters Bitcoin maximalism, and focuses on international tourism, Stacy Herbert describes El Salvador’s journey as “The greatest rebrand in history.”
Amazing thread on #Bitcoin + #Bukele = The greatest rebrand in history cost nothing at all! Compare that to the more than $550 million spent by a previous government on marketing CAFTA ...Or on the many tens of billions spent by Qatar on the World Cup https://t.co/Rtr56rXwz6— Stacy Herbert (@stacyherbert) January 2, 2023
On the Flipside
- Nayib Bukele’s crypto portfolio is still heavily in the red. Additionally, the president’s BTC purchases are down by 62.02%, with $41M left from the initial $108M.
- The Bitcoin-loving president also aims to buy one BTC daily, applying DCA (Dollar Cost Averaging) tactics since 18th November 2022.
Why You Should Care
El Salvador leads the way in crypto adoption globally, as it’s the first country to adopt Bitcoin (BTC) as a legal tender.
Learn more about crypto adoption progress around the globe:
Is Europe Poised to Become a Crypto Enthusiast’s Dream?
Japan to Revoke Ban on Foreign Stablecoins in 2023: Report