Salvadoran Bitcoin nonprofit faces funding crisis

Mi Primer Bitcoin, a Salvadoran nonprofit dedicated to Bitcoin (CRYPTO:BTC) education, is facing a critical funding shortage and may run out of funds by September, according to founder John Dennehy.

The organisation, which promotes Bitcoin literacy and adoption in El Salvador, has been struggling to meet its fundraising targets this year.

Dennehy explained that while they are expecting several grants by the end of the year, these funds may not arrive in time to sustain operations through the coming months.

He stressed that the nonprofit needs interim funding to bridge the gap until the expected grants are secured.

Mi Primer Bitcoin has been actively seeking donations and other funding sources to maintain its independence and ensure long-term sustainability.

However, the organisation has yet to secure enough immediate financial support to meet its short-term needs.

Dennehy emphasised that despite their best efforts to secure financial stability, the shortfall in this year's fundraising has created an urgent need for additional funds.

The organisation continues to work tirelessly to cultivate relationships with potential donors and grantmakers to achieve its goals.

Founded with the mission to promote financial education around Bitcoin in El Salvador, Mi Primer Bitcoin has become a key player in fostering understanding of cryptocurrency in the country.

The current funding challenge highlights the difficulties faced by educational nonprofits reliant on donations and grants, especially during periods of financial uncertainty.

The organisation remains hopeful that it can secure the necessary support to continue its educational programs without interruption, but it urgently needs a financial bridge to carry it through the next few months.

At the time of writing, the Bitcoin price was $59,311.05.