“Hope, not failure”… The life of a young man in El Salvador changed by Bitcoin [Bitcoin Seoul 2025]

"It could be considered a foolish decision to buy a car with Bitcoin (BTC). However, in El Salvador, where there was no concept of bank accounts or savings, Bitcoin means hope that something can be achieved."

Roman Martinis, co-founder of Bitcoin, evaluated the Bitcoin experiment in El Salvador on the 6th at 'Bitcoin Seoul 2025' held at Signiel Seoul in Songpa-gu, Seoul.



El Salvador gained significant attention in 2021 by becoming the world's first country to adopt Bitcoin as legal tender. Currently, four years later, it is known that 10% of El Salvador's citizens are using Bitcoin. While some suggest that the Bitcoin experiment in El Salvador has failed due to lower-than-expected usage rates, the changes felt on the ground are significant.

Martinis, the co-founder, said, "Many young people in El Salvador had given up on opportunities in their own country and grew up dreaming of leaving abroad. I was one of them and spent years in Italy." He added, "However, after the introduction of Bitcoin, El Salvador's citizens have begun to dream about the future, and people who had left are returning to their home country, changing their entire mindset."

He explained that El Salvador's citizens, who previously did not trust the value of currency due to extreme inflation, began to understand the necessity of savings for the first time after receiving salaries in Bitcoin. He said, "The most surprising thing while working with local community youth was that they began to understand money without us teaching them. By consuming satoshis and living by the Bitcoin standard, they became much more careful about how to spend money and want to stay in El Salvador, thanks to the belief that Bitcoin will be more valuable in the future."

Wally Menhivar, the US Premier Bitcoin Director, is another case of returning to his home country after adopting Bitcoin as legal tender. He said, "Currently, I'm operating a farm in El Salvador and paying 12 employees in Bitcoin. Previously, employees would spend their entire salary immediately, but now they save Bitcoin and only use what they need. People without bank accounts are now using Bitcoin as a savings account."

Bitcoin tourism is also reviving the local community. Martinis said, "People from all over the world are visiting El Salvador. By dealing with numerous tourists who ask every day, 'Can I pay with Bitcoin?', local residents have now developed a mindset that they can be part of future opportunities."

Director Menhivar emphasized, "In the existing financial system, those who control money are controlling our future. The true meaning of Bitcoin is not about becoming rich or making money, but about providing sovereignty to choose for oneself without anyone's permission."

Reporter Kim Jung-woo