Bitcoin Beach Reports Bitcoiners Moving to El Salvador

In light of the worldwide regulatory crackdowns on cryptocurrency, Roman Martinez, a co-founder of El Salvador's Bitcoin Beach, stated that "a lot of Bitcoiners" are thinking about relocating to the country.

El Salvador is welcoming Bitcoiners with open arms as the world tightens its grip on crypto.

According to Roman Martinez, co-founder of El Salvador's Bitcoin Beach, "a lot of Bitcoiners" are considering relocating to the country amid global crypto crackdowns.

Speaking to Cointelegraph at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27, Martinez highlighted how El Salvador's Bitcoin law is attracting those who feel left behind by traditional financial systems, Cointelegraph reports.

Having paved the way for other nations to adopt Bitcoin in 2021, President Nayib Bukele's administration made history when it backed legislation to recognize Bitcoin as legal tender.

"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 added that he's heard from people in the U.S., Canada, and Europe who are eyeing El Salvador as a potential home-buying destination for families "living in a Bitcoin standard," where costs may be lower.

In April, President Bukele unveiled a program that would grant citizenship to five thousand foreign workers.

El Salvador is home to 6.5 million people, with around 95,000 being non-citizens or immigrants. Of this number, 58% originated from Guatemala, Honduras, and Nicaragua. After subtracting citizens of the United States and other nations, about 55,000 remain.

Bukele, who has been in power since 2019 and was re-elected in 2024, has notably described himself as the "world's coolest dictator" and pushed pro-crypto legislation through a legislature that is controlled by his political party.

However, critics have raised concerns over Bukele's rule, which they claim has been marked by authoritarian measures, such as the alleged detention of critics by the police.

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