cryptoglobe.com
A historic shift is underway as one nation embraces an unprecedented monetary experiment.
As you probably know, in September 2021, El Salvador, the smallest and most densely populated country in Central America, became the first nation to make Bitcoin legal tender.
✨ Exactly 1 year ago today, El Salvador becomes the first country to adopt #Bitcoin as legal tender 🇸🇻 pic.twitter.com/DxcROGEAHQ
— RIZZO (@pete_rizzo_) September 7, 2022
In a recent Twitter thread, El Salvador-based Bitcoin enthusiast Francesco Barbati highlighted the significant impact of the country’s Bitcoin experiment.
Barbati noted that El Salvador has managed to avert a potential debt crisis due to its adoption of the cryptocurrency.
Barbati also mentioned the increasing popularity of Bitcoin education in the country, with 54 students participating in the preliminary stage of the CUBO+ program. The program includes various topics such as economics, monetary history, and theory. Saifedean Ammous, the author of “The Bitcoin Standard,” is set to deliver an in-person lecture as part of the course.
CUBO+ news 📰
— The Bitcoin Office (@bitcoinofficesv) April 19, 2023
Classes begin on Monday, 24 April and 54 students have made the grade
This preparatory phase of the program covers economics, monetary history, theory & more and will last until the end of June
The highlight will be an in person lecture from @saifedean
🇸🇻🚀 pic.twitter.com/xS2f8602Al
Additionally, the “Mi Primer Bitcoin” initiative reached 5,400 students in March, showcasing a nearly fourfold growth compared to the previous record of 1,400 students.
In March we broke another record and taught 5,400 in-person intro students in El Salvador 🚀, smashing our previous high of 1,400 😲. And we will not slow down.
— Mi Primer Bitcoin (@MyfirstBitcoin_) April 14, 2023
If this growth continues, we'll be able to educate, free, and empower millions of people in the next few years, and…
El Salvador’s Bitcoin renaissance continues to attract international attention, with prominent figures and businesses flocking to the country. Cory Klippsten, for example, plans to open the Swan Bitcoin House in Bitcoin Beach in El Zonte come October.
Swan House El Salvador opening October 1st 😎 https://t.co/2RVXIjCf4Y
— Cory✋Swan.com LET'S RUN #Bitcoin (@coryklippsten) January 11, 2023
The nation also hosted a high-profile Bitcoin conference, “Adopting Bitcoin,” a Lightning Summit held in November 2022.
Safe travels and see you next year!
— Adopting Bitcoin (@AdoptingBTC) November 19, 2022
Tickets for 2023 https://t.co/tUHS0H9M5Q
Bitfinex Stage | Day 1https://t.co/RX4Eu7W9QJ
Galoy Stage | Day 1https://t.co/MuC2KbFz2o
Bitfinex Stage | Day 2https://t.co/1jF1uCTKdR
Galoy Stage | Day 2https://t.co/JfWTIfBJIp pic.twitter.com/v0xabO9Bha
Barbati emphasized the significance of El Salvador’s regulatory approach to cryptocurrencies, treating Bitcoin as money and other assets as commodities. This clear regulatory framework is expected to pave the way for the highly anticipated Volcano Bonds.
We are now the world's first international digital asset platform to receive approval for a Digital Asset Service Provider license under El Salvador’s new Digital Assets Issuance Law! A milestone for financial freedom in Latin America.@bitfinex https://t.co/88Mmmi5s6M
— Bitfinex Securities (@BFXSecurities) April 11, 2023
Barbati expressed his hope that people recognize the transformative potential of El Salvador’s Bitcoin law, which he believes will have a lasting impact on the country and the global financial landscape, promoting a more equitable and decentralized future.