El Salvador’s ‘Bitcoin Beach’ cheers cryptocurrency surge

A sign promoting bitcoin transactions is seen on a street on the beach in El Zonte, El Salvador, one of the places where the use of bitcoin has been most promoted. In 2021, El Salvador was the first country in the world to establish bitcoin as legal currency at the initiative of Bukele. — AFP

EL ZONTE, El Salvador: In a surf town in El Salvador nicknamed “Bitcoin Beach”, shopkeeper Maria Aguirre watched with delight as the cryptocurrency – and her investment in it – recently soared to new all-time highs.

The digital currency that she acquired four years ago for US$2,200 is now worth around US$19,000, she said.