2024

United

Bitcoin

Roman Martinez, one of the co-founders of the Bitcoin Beach in El Salvador, claimed that “a lot of Bitcoiners” are considering the country as a place to resettle in response to international regulatory crackdowns on crypto.
Speaking to Cointelegraph at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27, Martinez said some people who have felt excluded from traditional financial systems may be looking at El Salvador due in part to the country’s policies on Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>). 
According to the Bitcoin Beach co-founder, Salvadoran President <a href="https://cointelegraph.com/top-people-in-crypto-and-blockchain-2023/nayib-bukele">Nayib Bukele</a> may have opened the floodgates to other countries by supporting legislation adopting BTC as legal tender in 2021. 
“A lot of families and individuals are seeing El Salvador as a Plan B,” said Martinez. “They’re buying properties, a lot of Bitcoiners, they’re moving to El Salvador to live there and they wanna raise their kids there.”
Martinez claimed he had heard of individuals based in Europe, the United States and Canada considering El Salvador a more affordable place to raise a family and buy a home “living in a Bitcoin standard.” In April, President Bukele <a href="https://x.com/nayibbukele/status/1776733270186545406" target="_blank" rel="noopener nofollow">announced</a> an initiative offering 5,000 foreign workers a pathway to citizenship.
Of the 6.5 million people living in El Salvador, roughly 95,000 <a href="https://www.inmovilidadamericas.org/el-salvador" target="_blank" rel="noopener nofollow"></a><a href="https://www.inmovilidadamericas.org/el-salvador" target="_blank" rel="noopener nofollow">are</a> non-citizens or immigrants, 58% of which were from Nicaragua, Honduras and Guatemala. That leaves roughly 55,000 from other countries, including the US. 
Related: <a href="https://cointelegraph.com/news/argentina-bitcoin-collaboration-el-salvador">Argentina aims to learn from El Salvador's Bitcoin success</a>
Since taking office in 2019 and getting <a href="https://cointelegraph.com/news/el-salvador-nayib-bukele-president-bitcoin">reelected in 2024</a>, Bukele has branded himself as the “world’s coolest dictator” and helped pro-crypto legislation move forward in a legislature controlled by his political party. Critics have claimed Bukele has been responsible for authoritarian policies while president, with the police allegedly&nbsp;<a href="https://cointelegraph.com/news/el-salvador-police-arrested-and-released-bitcoin-detractor-without-a-warrant">detaining individuals critical</a> of his administration.
Magazine: <a href="https://cointelegraph.com/magazine/el-salvador-bitcoin-chief-argentina/">El Salvador’s national Bitcoin chief has been orange-pilling Argentina</a>

Bitcoin Beach co-founder claims Bitcoiners want to move families to El Salvador

Cointelegraph

Other articles published on Jul 27, 2024

Cantor Fitzgerald announces $2B Bitcoin financing business

Terra’s Bankruptcy Court Order Spurs Major Reopening of Shuttle Bridge, Destruction of 150 Millio...

Circle Policy Lead Warns of Misleading EU Crypto Registry Update

Peter Schiff Challenges Trump’s Bitcoin Endorsement as Vote-Seeking Move

RFK Jr. Plans 550 BTC Daily Buys and $400 Billion Treasury

BlackRock Crypto Chief Denies Chances Of Solana, XRP ETF Approval

Join our free newsletter for daily crypto updates!