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Highlights:
- Bitcoin enthusiasts in El Salvador's Berlin town hope for growth following Trump's election.
- Over one hundred businesses in Berlin now accept bitcoin as payment
- A "bitcoin community center" offers workshops and educational opportunities to locals and foreigners.
In the picturesque mountain town of Berlin, located in El Salvador, the local community is leaning into cryptocurrency as a potential avenue for growth. Following the election of former US President Donald Trump, some Bitcoin enthusiasts are optimistic that his stance on the digital asset may help boost its adoption globally.
The town, situated within a coffee-growing region, has become a hub for cryptocurrency use, with over one hundred local businesses accepting bitcoin. These establishments, including cafes, grocery stores, bars, and gas stations, cater to the town’s roughly 18,000 inhabitants. This trend mirrors the larger national push toward cryptocurrency adoption that started in El Salvador with the government's initiative to make bitcoin legal tender in 2021.
Trump’s Stance on Bitcoin
The hopes of bitcoin supporters in Berlin are buoyed by Trump's comments about the cryptocurrency. He has vowed to deregulate the sector in the US, aiming to establish the country as a global leader in cryptocurrency. This position is seen as a positive development by local residents, with many believing that Trump's presidency could help drive the growth of bitcoin.
This optimism is shared by the mayor of Berlin, as well as other residents, who are watching closely as bitcoin continues to gain value. The cryptocurrency’s price has experienced significant growth, adding to the sense of anticipation for its future.
Bitcoin Community Center Promotes Education
A core part of Berlin’s push to embrace cryptocurrency is the establishment of a "bitcoin community center." Founded by Gerardo Linares, a local resident who moved to Berlin in 2023, the center focuses on educating both locals and visitors about bitcoin. The center offers workshops on various topics, from bitcoin usage to English language skills, attracting both international enthusiasts and locals eager to learn more about the cryptocurrency.
This educational initiative has drawn people from around the world, including individuals from France, the US, Canada, New Zealand, Australia, and Ireland. As Berlin continues to build its reputation as a bitcoin-friendly town, the center plays a key role in spreading knowledge about the digital currency.
Growing Presence of Bitcoin in Daily Life
The prevalence of bitcoin in Berlin extends beyond businesses. Local vendors, like Julio Ernesto Cruz, use the cryptocurrency for everyday transactions, showcasing its integration into the local economy. Cruz, who offers crafts at a park in the downtown area, notes the positive impact bitcoin has had on his life, particularly with how it has streamlined payments and transactions.
Despite this growing enthusiasm, the wider adoption of bitcoin across El Salvador remains inconsistent. Surveys indicate that a significant portion of the Salvadoran population has not embraced the digital currency, with many remaining skeptical of its long-term viability and volatility.
Nevertheless, Berlin’s embrace of bitcoin continues to signal the town's commitment to integrating cryptocurrency into its economy, contributing to a broader trend in El Salvador where Bitcoin's role is still evolving.
