Update (Nov. 7 at 09:07 pm UTC): Brace yourselves for the big news, as this article gets a facelift with some juicy commentary straight from My First Bitcoin.
My First Bitcoin, the once-local Bitcoin education initiative sprouted in the vibrant, sun-kissed soil of El Salvador, has now dramatically cut ties with the country’s Ministry of Education. What’s the next big move, you ask? Oh, just a little pivot to global Bitcoin education. No biggie.
Having educated over 27,000 eager souls-mostly in El Salvador, of course-about the magic that is Bitcoin (BTC), the organization is now setting its sights on supporting educators and community projects worldwide. Picture it: open-source materials and training tools, scattered like seeds in the winds of global knowledge.
In a heartfelt statement dropped like a hot potato on Friday, My First Bitcoin revealed they were also closing their physical office in El Salvador. You know, the one where they actually showed up in person. They’ve chosen the glamorous, completely remote work model instead. Can you feel the digital freedom, folks?
“Our ambition was always to change the world,” said John Dennehy, the founder, who’s probably contemplating world domination while sipping on a mojito. “But we had to start small-single student, single city, single nation. Now, we’re ready to take on the 8 billion people on this planet. Watch out, Earth.”
Ah yes, John Dennehy, the American activist and journalist who founded My First Bitcoin in 2021, had dreams of teaching Salvadorans about Bitcoin for free. They even got into bed with El Salvador’s Ministry of Education in 2023, thinking they could integrate Bitcoin Diplomas into the public school curriculum by 2024. What a wild, wild world it is.
However, as the tale goes, Arnold Hubach, the communications guy at My First Bitcoin, mentioned to CryptoMoon that their partnership with the Ministry of Education hit a brick wall in April 2025. No real reason for the split, just an amicable fade-out, like a one-hit-wonder band disappearing after their top-charting song.
El Salvador and the IMF
Now, let’s take a sharp left turn. Enter the International Monetary Fund (IMF), a familiar yet shady character in this drama. El Salvador, the country that first made Bitcoin legal tender back in September 2021, has been forced to reevaluate its Bitcoin-heavy policies. After all, you can’t dance to the tune of blockchain without the IMF noticing.
In December 2024, El Salvador came to an agreement with the IMF for $1.4 billion in financing. There were some strings attached-strings like winding down Bitcoin accumulation. Oops, sorry Bitcoin, your time in the spotlight may be over. The country even amended its Bitcoin law in January 2025 to make it voluntary for businesses to accept the digital currency. Call it a retreat, a tactical withdrawal, or whatever makes you feel better.
What about Bitcoin purchases, you ask? According to the IMF deal, El Salvador hasn’t bought any new Bitcoin since December. But here’s the kicker-don’t tell anyone, but the El Salvador Bitcoin Office’s website still proudly displays a record of their old Bitcoin purchases. They’re sitting on a cozy 6,374 BTC, worth about $654.8 million. Just a little reminder that the country is not exactly throwing in the towel on crypto just yet.
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2025-11-08 00:15