My First Bitcoin Ceases Operations in El Salvador
In a significant strategic shift, My First Bitcoin, an educational nonprofit focused on Bitcoin literacy, has announced its decision to cease operations in El Salvador, particularly its collaboration with the Ministry of Education. This transition marks the end of local classes that have educated over 27,000 students in El Salvador. Instead, the organization will now concentrate on fostering Bitcoin education globally with the development of open-source resources and training materials.
Background and Initial Goals
Founded in 2021 by John Dennehy, an American journalist and activist, My First Bitcoin was initially dedicated to providing Salvadorans with free Bitcoin education, gaining traction with plans to introduce its Bitcoin Diploma program into public schools by 2024 through a partnership with the Ministry of Education.
End of Collaboration and Shift in Focus
However, Dennehy revealed the conclusion of their Ministry collaboration in April 2025, which was announced to have ended without a clear explanation. Plans to implement a successor program were not disclosed. This shift in focus aligns with El Salvador’s broader reassessment of its Bitcoin policies, particularly following a recent deal with the International Monetary Fund (IMF).
El Salvador’s Bitcoin Policy Changes
El Salvador became the first nation to adopt Bitcoin as legal tender in September 2021. Shortly after, the government began a daily accumulation of the cryptocurrency. By December 2024, the nation had reached a $1.4 billion financing agreement with the IMF, which entailed limiting its Bitcoin initiatives and altering its Bitcoin legislation to make BTC acceptance optional for businesses. Reports indicate that since signing with the IMF, no additional Bitcoin has been purchased.
Current Status and Future Plans
Despite these developments, the official website of the El Salvador Bitcoin Office continues to report the government’s holdings of 6,374 BTC, valued around $654.8 million. According to Arnold Hubach, the organization’s communications director, this pivotal decision reflects an ambition to extend their influence from 6 million people in El Salvador to a global audience of 8 billion. With the office’s physical location closed and plans for a fully remote model underway, My First Bitcoin aims to pivot towards a comprehensive global impact in Bitcoin education.
