Roman Martinez, one of the co-founders of El Salvador’s Bitcoin Beach Zone, claimed that “many Bitcoin users” are considering the country as a relocation destination following increased international restrictions on cryptocurrencies.
Martinez told Cointelegraph at the Bitcoin 2024 conference in Nashville on July 27 that some people who feel excluded from the traditional financial system may be turning to El Salvador due to the country’s policies regarding Bitcoin (BTC). According to the Bitcoin Beach co-founder, Salvadoran President Najib Bukele may have opened the door to other countries by backing a bill to adopt BTC as legal tender in 2021.
“A lot of families and individuals are looking at El Salvador as a Plan B,” Martinez said. “They’re buying property, and a lot of bitcoiners want to move to El Salvador and live there and raise their children there.”
Martinez claimed he had heard from people living in Europe, the United States and Canada that they considered El Salvador an affordable place to raise a family and buy a home “to live by bitcoin standards.” Announced An initiative to provide a path to citizenship for 5,000 foreign workers.
Of the 6.5 million people living in El Salvador, approximately 95,000 was Of the foreigners or immigrants, 58% are from Nicaragua, Honduras and Guatemala. The remaining 55,000 or so are from other countries, including the United States.
Related: Argentina aims to learn from El Salvador’s Bitcoin success
Since taking office in 2019 and up for reelection in 2024, President Bukele has positioned himself as the “coolest dictator in the world” and helped pass pro-cryptocurrency legislation in Congress, which is controlled by his party. Critics have accused Bukele of implementing authoritarian policies during his presidency, with police detaining critics of his administration.
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