El Salvador's 'Bitcoin Beach' cheers cryptocurrency surge
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 $2,200 is now worth around $19,000, she said.
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.
The cryptocurrency has been legal tender since 2021 in the Central American nation, and a sign in Aguirre's store selling food and soft drinks tells customers: "Bitcoin accepted."
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View Details»She said bitcoin's rise had brought her more «economic stability,» and her investment gains enabled her to buy a washing machine, a stove and a refrigerator.
Aguirre's store is surrounded by other small businesses that also accept bitcoin, as well as the US dollar, which replaced the national currency — the colon — in 2001.
Located 58 kilometers (36 miles) southwest of the capital San Salvador, El Zonte gained its nickname due to its
