薩爾瓦多轉型為加密貨幣的最新強國

今天，我們將深入探討 2025 年最引人入勝、最不為人知的故事之一——薩爾瓦多轉變為加密貨幣的最新強國。

El Salvador's pivot from being a Bitcoin maximalist nation to thinking bigger is fascinating. Especially when you consider the country's new goal of becoming Latin America's premier crypto financial center.

薩爾瓦多從一個比特幣極端主義國家轉向更宏偉的國家，這是令人著迷的。尤其是當你考慮到該國成為拉丁美洲首屈一指的加密貨幣金融中心的新目標時。

But what happens when a Bitcoin maximalist nation decides to think bigger? And how does this fit into the broader narrative of Trump's crypto ambitions?

但是，當一個比特幣最大化國家決定考慮更大的事情時會發生什麼？這如何符合川普加密貨幣野心的更廣泛敘事？

Let's connect the dots and see where the crypto breadcrumb trail leads us...

讓我們把這些點連結起來，看看加密貨幣麵包屑線索將我們引向何方…

March 2023

2023 年 3 月

El Salvador made headlines when it announced plans to build a "Bitcoin City" at the base of the Conchagua volcano, powered by geothermal energy and boasting a circular design.

薩爾瓦多因宣布計劃在空查瓜火山腳下建造一座「比特幣城」而成為頭條新聞，這座「比特幣城」由地熱能提供動力，並擁有圓形設計。

The city would be a special economic zone governed by its own laws, aiming to attract crypto businesses and enthusiasts.

該城市將成為一個由自己的法律管轄的經濟特區，旨在吸引加密貨幣企業和愛好者。

While the concept generated excitement within the crypto community, it also faced criticism and skepticism from both local residents and international observers.

雖然這個概念在加密社區引起了興奮，但它也面臨著當地居民和國際觀察家的批評和懷疑。

Fast forward to January 2025.

快進到 2025 年 1 月。

As the world obsesses over Bitcoin ETFs and Trump's return to the political stage, something else is quietly unfolding in El Salvador.

當全世界都在關注比特幣 ETF 和川普重返政治舞台時，薩爾瓦多正在悄悄展開其他事情。

While Bitcoin City stalls, the country is orchestrating a pivot in crypto history.

雖然比特幣城停滯不前，但該國正在策劃加密貨幣歷史的支點。

El Salvador is no longer just pushing for Bitcoin adoption. Instead, it's making moves to transform itself into crypto's newest (and most strategic) financial hub.

薩爾瓦多不再只是推動比特幣的採用。相反，它正在採取行動將自己轉變為加密貨幣最新（也是最具戰略意義）的金融中心。

And it all started with a $1.3 billion negotiation that nobody saw coming...

這一切都始於一場無人預見的 13 億美元談判…

The Great Pivot

偉大的樞軸

For years, El Salvador's crypto identity has been synonymous with one thing: Bitcoin.

多年來，薩爾瓦多的加密身分一直是一件事的代名詞：比特幣。

But behind the scenes, another narrative has been quietly unfolding.

但在幕後，另一種敘事正在悄悄展開。

When Nayib Bukele first made Bitcoin legal tender in 2021, the International Monetary Fund was not impressed.

當 Nayib Bukele 於 2021 年首次將比特幣定為法定貨幣時，國際貨幣基金組織 (International Monetary Fund) 並沒有留下深刻的印象。

The organisation, which has historically influenced developing economies through lending programs, saw Bitcoin adoption as a threat to financial stability.

該組織歷來透過貸款計畫影響發展中經濟體，認為比特幣的採用對金融穩定構成威脅。

The stakes were high: El Salvador needed a $1.3 billion loan package from the IMF.

賭注很高：薩爾瓦多需要國際貨幣基金組織提供 13 億美元的貸款計畫。

But for four years, negotiations stalled, primarily due to the country's aggressive Bitcoin stance, particularly its law requiring all businesses to accept Bitcoin as payment.

但四年來，談判陷入停滯，主要是由於該國對比特幣的積極立場，特別是其法律要求所有企業接受比特幣作為付款方式。

A 2024 study showed that despite the mandatory acceptance law, only 7.5% of El Salvador's population actively used Bitcoin for transactions.

2024 年的一項研究表明，儘管有強制接受法，但薩爾瓦多只有 7.5% 的人口積極使用比特幣進行交易。

The implementation costs were also substantial, including developing the state-run Chivo wallet and setting up a nationwide Bitcoin ATM network.

實施成本也很高，包括開發國營 Chivo 錢包和建立全國性的比特幣 ATM 網路。

By late 2024, something had to give. El Salvador needed the IMF loan, but Bukele — fresh off re-election and sitting on paper profits from his Bitcoin strategy — wasn't about to abandon crypto entirely.

到 2024 年底，必須做出一些讓步。薩爾瓦多需要國際貨幣基金組織的貸款，但布克萊——剛剛連任並坐擁比特幣戰略的帳面利潤——並不打算完全放棄加密貨幣。

Instead, he orchestrated a clever pivot.

相反，他精心策劃了一個巧妙的轉變。

Bitcoin acceptance would become optional rather than mandatory.

比特幣的接受將成為可選的而不是強制性的。

The state-run Chivo wallet would be wound down.

國營的 Chivo 錢包將被縮減。

Government Bitcoin purchases would continue, but more strategically.

政府將繼續購買比特幣，但更具策略性。

A new focus would emerge on broader crypto infrastructure.

新的焦點將出現在更廣泛的加密基礎設施上。

This wasn't capitulation — it was transformation.

這不是投降——這是轉變。

El Salvador's rapid transformation into a crypto hub comes now — just as the country appears to be softening its Bitcoin stance.

薩爾瓦多現在正在迅速轉型為加密貨幣中心——正當該國似乎正在軟化其比特幣立場時。

But appearances can be deceiving.

但外表可能具有欺騙性。

The Tether Effect

繫繩效應

When Tether announced its relocation to El Salvador in January 2025, it wasn't just another corporate reshuffle.

當 Tether 於 2025 年 1 月宣布搬遷至薩爾瓦多時，這不僅僅是另一次公司重組。

This is the world's third-largest cryptocurrency by market cap — a $140 billion behemoth that facilitates a significant portion of all crypto trading — choosing to leave the British Virgin Islands for Central America.

這是按市值計算的世界第三大加密貨幣——一個價值 1400 億美元的龐然大物，促進了所有加密貨幣交易的很大一部分——選擇離開英屬維京群島前往中美洲。

The move came with significant baggage. Tether has faced its share of scrutiny — from an $18.5 million settlement with New York state in 2021 to ongoing questions about its reserves. Yet El Salvador welcomed them with open arms, granting a coveted Digital Asset Service Provider license.

此舉帶來了沉重的負擔。 Tether 也面臨同樣的審查——從 2021 年與紐約州達成的 1850 萬美元和解，到對其儲備金的持續質疑。然而薩爾瓦多張開雙臂歡迎他們，並授予了令人垂涎的數位資產服務提供者許可證。

Why? Because Tether brings more than just its headquarters — it brings an entire ecosystem.

為什麼？因為 Tether 帶來的不僅僅是它的總部——它還帶來了整個生態系統。

Tether is not alone.

Tether 並不孤單。

Bitfinex Derivatives (a long-time Tether ally) swapped its Seychelles address for El Salvador, securing its own DASP license. Their stated goal? To help transform El Salvador into "a financial services centre for Latin America."

Bitfinex Derivatives（Tether 的長期盟友）將其塞席爾地址換成了薩爾瓦多，從而獲得了自己的 DASP 許可證。他們既定的目標？幫助薩爾瓦多轉變為「拉丁美洲的金融服務中心」。

Bitget followed suit with a Bitcoin Service Provider license, signalling their intent to offer a full suite of crypto services in the country.

Bitget 緊隨其後，獲得了比特幣服務提供商許可證，表明他們打算在該國提供全套加密服務。

And now enters Rumble?

現在進入隆隆聲了嗎？

Yes, the right-leaning video platform that recently received a $775 million investment from Tether.

是的，最近獲得 Tether 7.75 億美元投資的右傾視訊平台。

Nayib Bukele encouraged Rumble CEO Chris Pavolvski to relocate.

納伊布·布克萊 (Nayib Bukele) 鼓勵 Rumble 執行長 Chris Pavolvski 搬遷。

This isn't just any tech company — it's one backed by some of the most influential figures in American tech-politics:

這不僅僅是一家科技公司——它得到了美國科技政治中一些最有影響力的人物的支持：

Peter Thiel (PayPal co-founder)

彼得·蒂爾（PayPal 共同創辦人）

JD Vance (Trump's vice president-elect)

JD 萬斯（川普當選副總統）

A 2021 funding round that valued it at $500 million

2021 年一輪融資，估值達 5 億美元

Now, after allocating part of its reserves to Bitcoin and receiving Tether's massive investment, Rumble is eyeing El Salvador as its potential new home.

現在，在將部分儲備分配給比特幣並獲得 Tether 的巨額投資後，Rumble 正在將薩爾瓦多視為其潛在的新家。

The Infrastructure Play

基礎設施建設

El Salvador

薩爾瓦多