More than half of the people in the Canary Islands are unable to save more than 100 Euros per month (La Caixa). Despite a booming tourism economy, young Canarians are struggling to build wealth as previous generations have.

Since 2020, basic living costs have increased drastically (food +40%, rent in cities +50%), while gross salaries have only risen by 20%.

Canarians can take advantage of Bitcoin as a savings technology, and by setting up businesses with favorable tax treatment in the area. With a compound annual growth rate of over 50% every year since 2016, Bitcoin is a long-term store of value and an excellent reserve asset or payment method for businesses.

The Canary Islands maintain a proud commitment to independent local business and self-sufficiency in resources such as renewable energy and water. Island communities are well placed to benefit from circular economies.

The growing number of merchants accepting Bitcoin as a payment method can help the Canarias grow into a thriving bitcoin economy.