El Zonte Capital was released. The Venture capital fund has a focal point on advancing hyperbitcoinization round the sector via strategic investments in startups constructing the destiny of the Bitcoin financial system.
The name references the city of El Zonte, El Salvador, where the Bitcoin Beach network become based to construct a round financial system leveraging Bitcoin and the Lightning Network and later stimulated President Nayib Bukele to draft law to make BTC a legal tender withinside the country.
Max and Stacy have been living for two months already in the El Zonte City, personally experimenting what living in a Bitcoin-Based economy is like. They’re indeed the ideal people to be leading the El Zonte Capital firm.
“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.”
The town of El Zonte is arguably the most “Bitcoinized” municipality on the planet, with much of local commerce conducted using Bitcoin. Keiser and Herbert have immersed themselves in the local scene, meeting with residents, business owners and politicians at all levels, including Bukele.
“We’ve been asking hard, deep questions to all of them and discussing their plans extensively” — Herbert said. “This is the place to be.”
Hyperbitcoinization defined, is the inflection point at which Bitcoin becomes the default value system of the world. As more individuals and groups around the world realize the advantages of a borderless, censorship-resistant and natively-digital system for transacting value, a critical mass of users will eventually fuel currency demonetization and the replacement of our world’s ingrained financial institutions and world powers with a more equitable, publicly-driven system.
EZ Cap will begin with a $5 million committed capital seed-stage fund. Keiser and Herbert are the firm’s general partners (GPs), along with the founder of Swan Bitcoin and Bitcoiner Ventures, Cory Klippsten. The advisory board will include several of the most knowledgeable and connected Bitcoiners from around the world, according to the partners.