Bitcoin Beach Town in El Salvador Bustles With Growth After BTC Becomes Legal Tender

June 16, 2021 0 Comments

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Ever since El Salvador passed a bill that was approved by a supermajority in the Salvadoran Congress legalizing bitcoin as legal tender in the nation, the country has remained in the spotlight. Furthermore, there’s an area in El Salvador called “Bitcoin Beach” with a small group of beach villagers that are attempting to leverage bitcoin on a daily basis.

El Zonte Beach Town and Surfer Village Attempts to Create a Bitcoin Circular Economy in El Salvador

In a region located about 50 miles from the Litoral highway, there’s a small village and a lively surfer community situated in Playa El Zonte beach. After El Salvador legalized bitcoin as a form of tender in the country, this beach village area started gaining lots of attention.

Not only will you find a number of hotels, hostels, and local eateries for surfers and backpackers, Playa El Zonte also has a bustling bitcoin community. The community or village calls itself “Bitcoin Beach” and people can follow the residents on Twitter.

Bitcoin Beach Town in El Salvador Bustles With Growth After BTC Becomes Legal Tender
Photo credit @Bitcoinbeach on Twitter.

The Bitcoin Beach residents were recently featured in a Reuters editorial published two days ago. A few residents of Bitcoin Beach discussed what was happening in the region ever since El Salvador made bitcoin legal tender.

The story highlights that Bitcoin Beach members aim to make the beach town “one of the world’s first bitcoin economies.” The reporter discusses the area with Take Zulma Rivas, a 38-year-old mother who accepts BTC payments for fruit.

Bitcoin Beach Town in El Salvador Bustles With Growth After BTC Becomes Legal Tender
Photo credit @Bitcoinbeach on Twitter.

According to Bitcoin Beach residents, the BTC-fueled town was first invoked by an anonymous BTC donor and a San-Diego native Michael Peterson. The mission is to create a BTC circular economy that involves every aspect of the village’s economy.

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Entrepreneurs and Foreign Businesses Flock to Bitcoin Beach

Furthermore, Bitcoin Beach has pushed the idea to Punta Mango, another region located three hours away from Playa El Zonte. Since bitcoin became legal tender in El Salvador, the village is seeing widespread appeal. It seems a great number of bitcoiners want to reside in the region and set up businesses in the bitcoin-friendly country.

The Bitcoin Beach resident’s official Twitter account has amassed more than 27,000 followers since its introduction in 2019. The account grew massively following El Salvador’s president, Nayib Bukele officially announcing the legal tender plans. The Twitter account shows all the action that’s been taking place in Playa El Zonte since then.

“Bitcoin Beach team working late to produce educational material for 6 million future Bitcoiners,” the Twitter account tweeted on Wednesday sharing a number of pictures of the progress. According to the residents of the village, a great number of entrepreneurs are showing up to the beach to visit or help the bitcoin economy flourish.

“If you just randomly showed up in El Salvador this week you would definitely think there was a huge bitcoin conference going on,” Bitcoin Beach said. The Twitter handle added:

Non-stop flow through the airport of company leaders looking to support this moment and bring jobs to El Salvador. 30 foreign business leaders coming to visit Bitcoin Beach tomorrow -to see how they can invest in El Salvador. Just this morning had 2 companies tell us they already have lawyers setting up their legal business entities. [El Salvador’s president, Nayib Bukele] has opened the jobs floodgates #bitcoin.

The residents of Bitcoin Beach have shared a myriad of photographs covering the work that’s been done so far in the area. “Desks have all filled up at Hope House Bitcoin Beach shared workspace with bitcoin companies streaming into El Salvador – So of course we are building more space,” the group stressed the other day.

“Crazy Days here at Bitcoin Beach We are thrilled and humbled by the number of companies and governmental agencies that are putting everything into plans to support the rollout of Bitcoin as an official currency of El Salvador,” the Bitcoin Beach group further said.

What do you think about the Bitcoin Beach community located at Playa El Zonte in El Salvador? Let us know what you think about this subject in the comments section below.

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