El Salvador's 'Bitcoin Beach' cheers cryptocurrency surge

March 20, 2024

A sign promoting bitcoin transactions is seen in the beach town of El Zonte in El Salvador (Marvin RECINOS)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 price increase "has been great and I'm very happy," the 53-year-old told AFP in El Zonte, where tourists relax on the beach and surfers ride waves. Located 58 kilometers (36 miles) southwest of the capital San Salvador, El Zonte gained its nickname due to its widespread early use of the cryptocurrency for payments. "Bitcoin Beach" is also the name of an application used in the area to make transactions. On the side of a road in El Zonte, Blanca Castillo runs a store selling artificial flowers and natural juices.