A Village in El Salvador Created a Bitcoin-Friendly Economy Amid COVID-19
In response, the community implemented an economic system based in Bitcoin (BTC). Residents started to adopt Bitcoin as a local alternative to conventional financial solutions after their tourism sector was decimated by the pandemic.
Michael Peterson, who worked with the anonymous donor to distribute the funds, commented on the initiative: “As we injected Bitcoin into the community, we also taught local businesses how to accept it and helped to educate them on the advantages and drawbacks of accepting Bitcoin. In February, Cointelegraph Spanish reported that Bitcoin Beach and Athena Bitcoin installed the first BTC ATM in the village.