Over 60 crypto-interested Cubans attended the country’s first-ever Bitcoin-only meetup, which the country’s Bitcoin community sponsored in Havana over the weekend.
On May 31st, 2023, in Havana, the Cuban Bitcoin community conducted its first BTC-only gathering. Over 60 people, including Bitcoin fans, businesspeople, and government representatives, came to the event.
Forte11, a pseudonymous Bitcoin supporter who has been involved in the Cuban Bitcoin community for several years, planned the gathering. According to Forte11, the meetup’s objective was to inform Cubans about Bitcoin and its potential to boost the island nation’s economy.
Forte11 stated, “We want to demonstrate to Cubans that Bitcoin is a competitive alternative to the centralized peso.” “Cubans can use bitcoin to save money, remit money, and launch businesses.”
Cuban bitcoin meetups are a welcome change from the largely homogenous events in the West. These gatherings draw a wide variety of attendees, including small company owners, software professionals, teenage students, and even grandmothers, with a turnout of over 60 people. The inclusive atmosphere of these events demonstrates the wide acceptance and interest in Bitcoin within the Cuban population.
Despite having a government-run economy, Cuba has recently taken moves to loosen restrictions on the ownership of private businesses. As a result of the country’s amended crypto rules, cryptocurrencies are now accepted legally as a form of payment for products and services, which has created a favorable environment for Bitcoin merchant adoption.
Bitcoin vlogger and advocate, Paco de la India, was among the attendees at the Bitcoin-only meetup in Cuba. During the gathering, he delivered a talk on Bitcoin adoption around the world, highlighting the global significance and potential of the cryptocurrency.
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His presence and insights further contribute to the growing enthusiasm and awareness of Bitcoin’s transformative power within the Cuban community.
To demonstrate this, the group sold Cuba Bitcoin T-shirts for 1,000 satoshis ($0.30) so attendees could learn about the layer-2 Lightning Network — and they sold out.
The meetup was a success, and it is clear that there is a growing interest in Bitcoin in Cuba. The event was covered by local media, and it is likely that the meetup will help to raise awareness of Bitcoin among the Cuban population.
The meetup is expected to help open the door for the mass acceptance of bitcoin in Cuba, the Cuban Bitcoin community is optimistic. Cubans are being educated about Bitcoin, and businesses based on Bitcoin are being developed by the community. Additionally, the community is attempting to persuade Cuba’s government to accept Bitcoin.
The Cuban Bitcoin community serves as an illustration of how citizens in nations with restrictive governments might utilize Bitcoin to their advantage. Without relying on the government, Bitcoin can give people a method to start businesses, transfer remittances, and save money. Additionally, Bitcoin can assist people in securing their wealth against inflation and governmental seizure.