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Roman Martinez of Bitcoin Beach says Bitcoiners are considering El Salvador for relocation amid global crypto crackdowns.
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.
At the Bitcoin 2024 conference in Nashville, Tennessee, on July 27, Martinez spoke to Cointelegraph and suggested that El Salvador's Bitcoin rules would attract individuals who have felt left out of conventional financial systems, Cointelegraph reports.
President Nayib Bukele of El Salvador may have paved the way for other nations to embrace Bitcoin in 2021, claims the co-founder of Bitcoin Beach, because he backed legislation to recognize Bitcoin as legal currency.
"A lot of families and individuals are seeing El Salvador as a Plan B," Martinez stated. "They’re buying properties, a lot of Bitcoiners, they’re moving to El Salvador to live there and they wanna raise their kids there."
Bitcoin Standard Living in El Salvador
Martinez asserted that he has heard of people from the US, Canada, and Europe who were looking at El Salvador as a potential cheaper home-buying destination for families "living in a Bitcoin standard." A program that would allow five thousand foreign employees to become citizens was unveiled by President Bukele in April.
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's Re-Election and Crypto Policies
Bukele has been in power since 2019 and was re-elected in 2024. He has proclaimed himself the "world's coolest dictator" and pushed pro-crypto legislation through a legislature that is controlled by his political party.
Many believe that Bukele's rule was characterized by authoritarian measures, including the purported detention of critics by the police.
