Light Amid Darkness

In the midst of a gloomy bear market, there’s a shining example of generosity and community spirit emanating from El Salvador. The nonprofit program Mi Primer Bitcoin, translating to My First Bitcoin, has managed to raise over one full Bitcoin (BTC) in donations.

Fundraising Triumph

This isn’t just a case of deep-pocketed investors swooping in; rather, it’s fueled by everyday advocates of Bitcoin education from all around the globe. Contributors from nations like Venezuela, Poland, and Canada have sent satoshis (the smallest units of Bitcoin) through the Lightning Network to help expand My First Bitcoin’s Bitcoin Diploma program.

Community Momentum

The campaign garnered attention, celebrated with a heartfelt shout-out on Twitter:

“We did it! Crowdfunded 1 BTC on @geyserfund in April! Huge THANK YOU to the 250+ donors who got us here!”

Bitcoin’s Empowerment Potential

To understand the success behind this crowdfunding effort, Cointelegraph chatted with John Dennehy, the founder of My First Bitcoin. Dennehy highlighted Bitcoin’s ability to empower individuals, stating,

“Bitcoin crowdfunding makes it possible for anyone to participate…It levels the playing field.”

Efficient Donations and Low Fees

What’s unique about this fundraising method? Unlike traditional crowdfunding platforms like PayPal or GoFundMe, Bitcoin doesn’t suffer from censorship or high fees. As Dennehy puts it:

“Bitcoin allows people to take control of their own money.”

Lightning-Fast Generosity

The campaign’s momentum was supercharged by the legendary Bitcoin Beach, a thriving Bitcoin community located in El Zonte. This locality was a catalyst for BTC’s recognition as legal tender in El Salvador. Bitcoin Beach even pledged to match all donations up until a certain deadline, which pushed donations over the edge, demonstrating a powerful collective effort.

Records and Education

MetaMick, the brains behind the crowdfunding platform Geyser used by My First Bitcoin, shared,

“Definitely the biggest educational project on Geyser ever!”

And it was just the start; Geyser experienced a record-breaking month in April, amassing over 2 BTC in donations overall.

Building for the Future

Despite the constant fluctuations in Bitcoin prices, the community is steadfast in its commitment to education and building a better future. As Dennehy expressed a sentiment felt by many in the space,

“We are inspired every day by the support we receive from the Bitcoin community.”

So far, My First Bitcoin has educated around 6,000 students in El Salvador, marking significant progress in the realm of Bitcoin education.