LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
No Result
View All Result
Bitcoin News

How El Zonte, aka Bitcoin Beach, Came to Be

by Nick Marinoff
April 16, 2022
in Bitcoin News, News
Share
logo

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000

Sign up

El Zonte in El Salvador is known as “Bitcoin Beach.” It’s a relatively small location in a country that very few people could point out on a map. However, it’s doing a lot for the world’s number one digital currency by market cap in that it’s allowing the asset’s name to grow and enter mainstream status.

El Zonte Is Becoming One with Bitcoin

Many businesses in El Zonte – which has become a tourist town – accept BTC as a method of payment. It was one of the first regions to push a digital currency agenda, and it’s attracting several people from around the world as a result. Andreas Kohl, for example, recently visited from Liechtenstein in Europe. Reporters caught up with him to get his ideas on bitcoin and the city. He commented that while he doesn’t surf, he’ll probably wind up taking it up during his stay. He also said:

Bitcoin city’s happening here, and it might be the next Singapore. I want to see it happen.

It’s interesting that such a small city of just over 3,000 people could become so significant in the growing digital currency arena, but that’s exactly what’s happened. El Zonte, at one point, was nothing but a standard beach town with livestock and a few locals walking about, but that all changed when Mike Peterson – an expatriate from San Diego, CA with an economics degree – came to the region.

Discussing how he got involved in the area, he commented:

I wound up here on a surf trip, I think, like 18 years ago. Fell in love with the warm water, the nice waves, but most especially the people here.

Peterson, at one stage, was a well-to-do financial planner. He moved to El Zonte a few years later and started a mission to help the people in the area. He began a charity called Mission Sake in the year 2015 that funds both missionaries and scholarships and has created several local jobs. At the time, many residents were forced to leave the country if they wanted to find work.

Peterson says:

That’s kind of the cycle we’ve seen of destruction of people having to leave because there’s not enough opportunity. Then their kids are growing up without their parents here so they’re very vulnerable to the gangs. They join the gangs, the gangs grow, and you have this kind of destructive cycle.

How Crypto Got Involved

From there, things began to change. In 2019, he was connected to an anonymous donor who wanted to put his (or her) bitcoin fortune to good use, which is how the bitcoin agenda in the city was born. Peterson says:

The stipulation was you can’t just convert it into dollars because they believe the actual usage of bitcoin would be what would benefit the people.

Related Posts

SOL Price Analysis
Altcoin News

SOL Price Analysis: Solana Rally Could Resume Above $60

Solana price started a fresh increase from the $51.20 zone against the US Dollar. The price is now trading...

by Aayush Jindal
November 29, 2023
Bitcoin Price
Bitcoin News

Bitcoin Price Analysis: BTC Could Surge Further Toward $40K

Bitcoin price started a strong increase above the $37,500 zone against the US Dollar. The price is now trading...

by Aayush Jindal
November 29, 2023
Cardano (ADA) Price
Altcoin News

Cardano (ADA) Price Analysis: Key Barrier Intact At $0.40

ADA price is still struggling to clear the $0.40 zone against the US Dollar. The price is now trading...

by Aayush Jindal
November 28, 2023
Ethereum Price
Altcoin News

Ethereum Price Analysis: ETH Holds Key Uptrend Support

Ethereum price started a downside correction from the $2,135 resistance against the US Dollar. ETH price is now trading...

by Aayush Jindal
November 28, 2023

Top Casinos

Crypto Casinos
Crypto Casinos
Bonus Finder
Bonus Finder

Press Releases

  • ArbitrageScanner is hosting its biggest affiliate event in Bangkok on the 9th of December. For...

  • Is the Bitcoin price still at risk? Golden Cross signals bull run

  • FUNToken & ivendPay: Pioneering the Next Era of Crypto Payments

  • Zeebu’s $ZBU Listing On Gate.io and Startup Program

  • Blockchain Expo Global 2023: Uniting the World’s Leading Innovators in London

About us:

Live Bitcoin News is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at Live Bitcoin News, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

Follow us:

  • This field is for validation purposes and should be left unchanged.

  • About
  • Partners
  • PR
  • Advertising
  • Privacy
  • T&C
  • Contact
  • Trading Software
  • Online Casinos Germany

© 2023 Live Bitcoin News. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise

© 2023 Live Bitcoin News. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.
Go to mobile version