The long-term Bitcoin evangelist and his wife, Stacy Herbert, have announced El Zonte Capital, an investment fund aimed at placing El Salvador at the heart of “hyperbitcoinization.”
The company is named for the city where the Bitcoin Beach Community was founded to create a circular economy leveraging both Bitcoin and the Lightning Network, leading to El Salvador’s president drafting legislation to accept BTC as legal tender.
The husband and wife presenters of The Orange Pill Podcast and Russia Today’s The Keiser Report started the company after living for the past two months in the coastal city and learning first-hand how a Bitcoin-based economy functions.
“El Zonte is hyperbitcoinization. Hyperbitcoinization is economic freedom, and hyperbitcoinization is our main investment thesis,” Keiser told Bitcoin Magazine. “After experiencing what it actually looks like, we see this as the inevitable near future for everyone else. We are riding this wave as any surfer would.”
Hyperbitcoinization is the future, says Max Keiser
Hyperbitcoinization is the point at which Bitcoin becomes the default value system of the world. As the benefits of a borderless, censorship-resistant and natively-digital system for transacting value become apparent, a critical mass of users will tip the balance toward mass adoption.
The town of El Zonte is arguably the most “Bitcoinized” municipality on the planet, with much of local commerce conducted using the currency.
El Zonte Capital will begin operations with an initial fund of $5 million.
Keizer and Herbert are the general partners of the firm, along with Swan Bitcoin founder Cory Klippsten. The advisory council will include several of the most knowledgeable and connected Bitcoiners from around the world, according to the partners.
Keiser and Herbert first started investing in Bitcoin-related companies in 2013 and have since made venture investments in over 15 firms, including exchanges Kraken, Swan Bitcoin and Bitfinex
“The future is all around us,” Keiser said. “I haven’t been this excited about Bitcoin since I first heard about Bitcoin.”