My First Bitcoin, an organization dedicated to Bitcoin education, has concluded its partnership with El Salvador's Ministry of Education. The program will now shift its focus from delivering local classes to supporting global Bitcoin education efforts.
The organization has successfully educated over 27,000 students through in-person classes, primarily in El Salvador. Moving forward, My First Bitcoin aims to empower educators and community projects worldwide by providing open-source materials and training tools.
In a statement released on Friday, My First Bitcoin announced the closure of its physical office in El Salvador and the adoption of a fully remote operational model. This strategic shift signifies a broader ambition for the program's reach and impact.
“Our ambition was always to change the world, but we had to start with a single student, then a single city, then a single nation and now we are ready to raise the potential impact from 6 million people to 8 billion,” stated founder John Dennehy. This sentiment underscores the program's expansive vision.
Established as an independent nonprofit in 2021 by American activist and journalist John Dennehy, My First Bitcoin initially offered free Bitcoin education to Salvadorans. In 2023, the organization formalized a partnership with El Salvador’s Ministry of Education, with the goal of integrating its Bitcoin Diploma program into public schools by 2024.
This transition occurs as El Salvador reassesses its Bitcoin policies following a recent agreement with the International Monetary Fund (IMF).
El Salvador and the IMF
El Salvador officially adopted Bitcoin as legal tender in September 2021. Shortly thereafter, the country began acquiring one Bitcoin daily.
In December 2024, El Salvador secured a $1.4 billion financing agreement with the IMF. This agreement included commitments from the country to scale back its Bitcoin initiatives, thereby limiting its BTC accumulation plans.
As a condition of the agreement, lawmakers amended the country's Bitcoin law in January, making BTC acceptance voluntary for businesses.
In July, the IMF published a report indicating that El Salvador had not purchased any new Bitcoin since signing the agreement in December.
Despite these reports, the El Salvador Bitcoin Office's website continues to display records of the government's ongoing Bitcoin purchases. The reported holdings currently amount to 6,374 BTC, valued at approximately $654.8 million at the time of this report.