El Salvador’s My First Bitcoin Shuts Down Local Operations – What’s Next for Crypto Adoption?

El Salvador's bold Bitcoin experiment hits another snag as My First Bitcoin—a key player in the country's crypto education push—abruptly closes its local chapter.

Why now? The shutdown raises eyebrows as President Bukele doubles down on Bitcoin City ambitions while everyday Salvadorans grapple with Chivo wallet glitches and volatile BTC paychecks.

Finance traditionalists smirk: 'Turns out magic internet money doesn't fix decades of dollarization overnight.' But crypto builders aren't retreating—they're regrouping.

Partnership dissolves as El Salvador changes its Bitcoin policy

Through the program’s partnership with the Ministry of Education, bitcoin education will become available throughout the country in public schools. My First Bitcoin College sent out its curriculum to schools in 2024, following the publication of its diploma-style syllabus, which was developed in collaboration with the Ministry in 2023.

They ultimately flamed out in April 2025. The government provided no specific reason for halting the initiative, but Arnold Hubach, Director of Communication at My First Bitcoin, stated that no new program will be introduced.

The announcement marked another in a series of policy reversals on Bitcoin in El Salvador, which followed financial discussions with the International Monetary Fund (IMF). El Salvador secured a $1.4 billion IMF bailout in December 2024, which pledged to wind down Bitcoin projects and halt the government’s regulatory purchases of BTC.

In January 2025, legislators revised the nation’s Bitcoin law, allowing businesses to opt in or out of accepting Bitcoin. Later in mid-2025, the IMF reported that El Salvador had not purchased any new Bitcoin since the financing deal was signed — although an official website for the Bitcoin Office still advertises its ongoing purchases.

The government’s reported Bitcoin treasury currently stands at approximately 6,374 BTC, which is valued at $654.8 million, according to current prices and public data on the Bitcoin Office website.

A chapter closes, but the work goes on

It’s on-the-ground time in El Salvador may be over, but My First Bitcoin says its mission remains the same. The organization aims to advise teachers and activists in other countries who wish to introduce Bitcoin education into schools, community centres, and informal learning environments.

The group’s curriculum has already been implemented or piloted in Argentina, Costa Rica, Colombia, and other locations in Africa and Europe. Through the new pivot, My First Bitcoin aims to create an online learning network worldwide, rather than being a single centre.

While My First Bitcoin may no longer run classes on Salvadoran soil, its mission is now more ambitious than ever: to teach billions of people worldwide how to navigate the world of Bitcoin safely and responsibly, starting with teachers and students who will carry the knowledge forward in their communities.

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