Stop Worshiping Bitcoin! El Salvador Proves It’s Just Money (Not a Savior) | Mike Peterson

Mike Peterson joins CK to share the story of Bitcoin Beach in El Zonte, El Salvador, and how it became a model for a circular economy. The conversation explores his journey from a California surfer to a community leader in El Salvador, where bitcoin moved from theory into practice. Together, they discuss why bitcoin must be used as money rather than just digital gold, how saving in bitcoin changed lives in El Zonte, and what it means for a nation to adopt bitcoin as legal tender.

The episode highlights how Bitcoin Beach started as a community effort to keep young people out of gangs and how paying them in Bitcoin created a culture of saving and long-term thinking. Mike explains the challenges that came with adoption, from lost wallets to bear markets, and why success must be measured over decades, not months. He also reflects on the role of faith and money in shaping his work and why giving credit to others has helped the project grow.

This conversation is about more than bitcoin’s price or technology. It shows what happens when financial freedom, community development, and personal values come together in one place. If you want to understand how circular economies form and why El Salvador’s story matters globally, you’ll find insights here you won’t hear anywhere else.

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-Bitcoin Beach Team

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Browse through this quick guide to learn more about the episode:
00:00 Why did Mike Peterson move to El Salvador during the world’s highest murder rate?
01:15 What did Mike want to be as a kid and how did surfing shape his life?
02:39 How did a surf trip lead to discovering El Salvador?
04:42 What did El Salvador save him from and what did bitcoin change for him?
06:08 How does Mike define a true bitcoiner?
07:08 What lesson took him the longest to learn about persuasion?
10:19 How did Mike meet his wife and what did he study in college?
18:13 What is Mike’s bitcoin story and when did he first buy?
20:03 Which adoption story from Uganda surprised him most?
26:40 What is Bitcoin Beach and how did it start?
28:59 How did paying youth in bitcoin change saving habits?
29:58 What were the hardest moments of running Bitcoin Beach?
32:27 How has Bitcoin Beach impacted El Salvador’s image and tourism?
38:37 How did faith and early projects shape his work before bitcoin?
41:52 What has Mike changed his mind about since starting Bitcoin Beach?
43:47 What legacy does Mike hope Bitcoin Beach will leave 100 years from now?

Live From Bitcoin Beach