萨尔瓦多转型为加密货币的最新强国

今天，我们将深入探讨 2025 年最引人入胜、最不为人知的故事之一——萨尔瓦多转变为加密货币的最新强国。

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.

萨尔瓦多从一个比特币极端主义国家转向更宏伟的国家，这是令人着迷的。尤其是当你考虑到该国成为拉丁美洲首屈一指的加密货币金融中心的新目标时。

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，当一个比特币最大化国家决定考虑更大的事情时会发生什么？这如何符合特朗普加密货币野心的更广泛叙述？

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

让我们把这些点联系起来，看看加密货币面包屑线索将我们引向何方……

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.

萨尔瓦多因宣布计划在空查瓜火山脚下建造一座“比特币城”而成为头条新闻，这座“比特币城”由地热能提供动力，并拥有圆形设计。

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

该城市将成为一个由自己的法律管辖的经济特区，旨在吸引加密货币企业和爱好者。

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

虽然这个概念在加密社区引起了兴奋，但它也面临着当地居民和国际观察家的批评和怀疑。

Fast forward to January 2025.

快进到 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.

当全世界都在关注比特币 ETF 和特朗普重返政治舞台时，萨尔瓦多正在悄然展开其他事情。

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

虽然比特币城停滞不前，但该国正在策划加密货币历史的转折点。

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.

萨尔瓦多不再只是推动比特币的采用。相反，它正在采取行动将自己转变为加密货币最新的（也是最具战略意义的）金融中心。

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

这一切都始于一场无人预见的 13 亿美元谈判……

The Great Pivot

伟大的枢轴

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

多年来，萨尔瓦多的加密身份一直是一件事的代名词：比特币。

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

但在幕后，另一种叙事正在悄然展开。

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

当纳伊布·布克莱 (Nayib Bukele) 于 2021 年首次将比特币定为法定货币时，国际货币基金组织 (International Monetary Fund) 并没有留下深刻的印象。

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

该组织历来通过贷款计划影响发展中经济体，认为比特币的采用对金融稳定构成威胁。

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

赌注很高：萨尔瓦多需要国际货币基金组织提供 13 亿美元的贷款计划。

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.

但四年来，谈判陷入停滞，主要是由于该国对比特币的积极立场，特别是其法律要求所有企业接受比特币作为付款方式。

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

2024 年的一项研究表明，尽管有强制接受法，但萨尔瓦多只有 7.5% 的人口积极使用比特币进行交易。

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

实施成本也很高，包括开发国营 Chivo 钱包和建立全国性的比特币 ATM 网络。

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，必须做出一些让步。萨尔瓦多需要国际货币基金组织的贷款，但布克莱——刚刚连任并坐拥比特币战略的账面利润——并不打算完全放弃加密货币。

Instead, he orchestrated a clever pivot.

相反，他精心策划了一个巧妙的转变。

Bitcoin acceptance would become optional rather than mandatory.

比特币的接受将成为可选的而不是强制性的。

The state-run Chivo wallet would be wound down.

国营的 Chivo 钱包将被缩减。

Government Bitcoin purchases would continue, but more strategically.

政府将继续购买比特币，但更具战略性。

A new focus would emerge on broader crypto infrastructure.

新的焦点将出现在更广泛的加密基础设施上。

This wasn't capitulation — it was transformation.

这不是投降——这是转变。

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

萨尔瓦多现在正在迅速转型为加密货币中心——正当该国似乎正在软化其比特币立场时。

But appearances can be deceiving.

但外表可能具有欺骗性。

The Tether Effect

系绳效应

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

当 Tether 于 2025 年 1 月宣布搬迁至萨尔瓦多时，这不仅仅是另一次公司重组。

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.

这是按市值计算的世界第三大加密货币——一个价值 1400 亿美元的庞然大物，促进了所有加密货币交易的很大一部分——选择离开英属维尔京群岛前往中美洲。

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.

此举带来了沉重的负担。 Tether 也面临着同样的审查——从 2021 年与纽约州达成的 1850 万美元和解，到对其储备金的持续质疑。然而萨尔瓦多张开双臂欢迎他们，并授予了令人垂涎的数字资产服务提供商许可证。

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

为什么？因为 Tether 带来的不仅仅是它的总部——它还带来了整个生态系统。

Tether is not alone.

Tether 并不孤单。

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 的长期盟友）将其塞舌尔地址换成了萨尔瓦多，从而获得了自己的 DASP 许可证。他们既定的目标？帮助萨尔瓦多转变为“拉丁美洲的金融服务中心”。

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

Bitget 紧随其后，获得了比特币服务提供商许可证，表明他们打算在该国提供全套加密服务。

And now enters Rumble?

现在进入隆隆声了吗？

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

是的，最近获得 Tether 7.75 亿美元投资的右倾视频平台。

Nayib Bukele encouraged Rumble CEO Chris Pavolvski to relocate.

纳伊布·布克莱 (Nayib Bukele) 鼓励 Rumble 首席执行官克里斯·帕沃尔斯基 (Chris Pavolvski) 搬迁。

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

这不仅仅是一家科技公司——它得到了美国科技政治中一些最有影响力的人物的支持：

Peter Thiel (PayPal co-founder)

彼得·蒂尔（PayPal 联合创始人）

JD Vance (Trump's vice president-elect)

JD 万斯（特朗普当选副总统）

A 2021 funding round that valued it at $500 million

2021 年一轮融资，估值达 5 亿美元

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.

现在，在将部分储备分配给比特币并获得 Tether 的巨额投资后，Rumble 正在将萨尔瓦多视为其潜在的新家。

The Infrastructure Play

基础设施建设

El Salvador

萨尔瓦多