Bitcoin Country Or State Capture? Bukele Finally Exposed The Real Tension in El Salvador | Giacomo Zucco, Knut Svanholm, Jethro Toro

Recorded in the middle of Bitcoin Month, this episode brings together Knut Svanholm, Giacomo Zucco, Mike Peterson, and Jethro Toro in El Zonte, El Salvador. They unpack what it feels like to live through Bitcoin Historico at the National Palace San Salvador, Adopting Bitcoin in San Salvador, and the Bitcoin Beach Festival on the coast. From free pupusas and packed plazas to barefoot plebs and kids everywhere, you get a ground-level view of why El Salvador still feels like Bitcoin Country after the El Salvador legal tender law and why so many Bitcoiners keep coming back.

The crew shared the story everyone asks about, their surreal invitation to a formal dinner with President Bukele. Giacomo explains how he gifted a bottle of Dictador rum, they talk about Bukele’s quick jokes about Libertarian anarchism and public sector jobs, and they explain what was actually discussed about Bitcoin adoption, circular economy experiments, and bottom-up projects like Bitcoin Beach and Bitcoin Berlin. It is not a press release, it is what it felt like for plebs and authors like Knut Svanholm and educators like Giacomo Zucco to suddenly find themselves at a presidential table with Max Keiser & Stacy Herbert and other Bitcoin builders.

They also go deep on the work behind the scenes. Mike Peterson shares an update on Bitcoin Beach and the push to launch at least 14 new circular economy projects across El Salvador, plus the new Bitcoin-themed boutique hotel, the Citadel of Hope, and a pickleball court in Punta Mango. Giacomo walks through the three pillars of Plan B Network, global Bitcoin education like Cubo Plus and Node Nation, physical hubs in places such as Lugano, London, and future hubs in San Salvador, and an emerging Bitcoin venture path and startup support. Along the way, they touch on the IMF pressure, how the government stayed committed through bear markets after El Salvador, legal tender went live, and why ideas like Libertarian socialism still get a fair hearing in off-the-record debates.

Running through the episode is the culture piece. Knut talks about his books, the Bitcoin Infinity framing, his talks at Bitcoin Historico inside the National Palace San Salvador, and why Adopting Bitcoin feels more like a festival than a standard conference. The group tells the origin story of Satoshi Rokamoto, the improvised Bitcoin rock band that now shows up at events from Mexico to Lugano, often playing long after the sound crew tries to shut things down. 

If you care about Bitcoin in El Salvador, circular economy models, or just want to know what it is really like on the ground during Bitcoin Month, this conversation will probably make you start checking flights.

If you enjoyed this episode, share it with a Bitcoiner who has El Salvador on their list, leave a comment with your favorite story from Bitcoin Month, and hit subscribe so you do not miss the next chapter of Bitcoin Country.

-Bitcoin Beach Team

Connect and Learn more about Giacomo, Knut, Jethro:

Giacomo Zucco
X: https://x.com/giacomozucco
Web: https://www.giacomozucco.com/ 

Knut Svanholm
X: https://x.com/knutsvanholm
YT: https://www.youtube.com/@BitcoinInfinityShow   

Jethro Toro
X: https://x.com/JethroToro 

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