Since 60 Minutes featured MICHAEL PETERSON 鈥�97 and his Bitcoin Beach last April, his life has changed a bit. 鈥淚鈥檝e had meals with three different billionaires,鈥� he says. 鈥淚 don't normally run in those circles.鈥�
Michael and his wife, Brittany Cox Peterson 鈥�97, co-founders of Missionsake, prefer meeting the spiritual, mental, physical and relational needs of El Salvador鈥檚 missionary community.
A journey around the developing world his senior year with three friends from Europe Semester led Michael to consider a career in missions. Seven years later, a surfing trip to El Salvador with another 蜜桃传媒 alumnus included a week serving with a medical missions team in Guatemala. 鈥淚 fell in love with El Salvador 鈥� the surf, the warm water and the people,鈥� he says.
He and Brittany bought a home in El Zonte, a small coastal town, and visited every winter during the off-season of their food-service business. They attended the country鈥檚 lone English-speaking church in San Salvador and learned from missionaries about their challenges with children, marriage and ministry. 鈥淲e became close to a family who had experienced a lot of trauma,鈥� Michael says. 鈥淭he husband had been shot in the neck in El Salvador, losing his voice and suffering from PTSD. We felt called to pour into their lives 鈥� and God opened our eyes to the broader need of support for missionaries.鈥�
Ten years ago, the Petersons decided to stay in El Salvador full-time, running Missionsake. The ministry provides business expertise, counseling and two guest homes. 鈥淢issionaries have no budget for time away,鈥� Michael says. 鈥淭hey feel guilty taking a vacation. Providing a place for them to stay helps them reconnect with family and be alone.鈥�
Missionsake also hosts an annual conference, The Gathering, to help unify the missionary community. 鈥淲e hope this time of fellowship will grow into deeper friendships and stronger connections,鈥� he says.
Community Build, another Missionsake initiative, focuses on education and local development projects. 鈥淭he youth in El Salvador are vulnerable to being enticed into gangs,鈥� he says. 鈥淢any of them grow up without any parents because they鈥檙e in the U.S. working illegally or in jail.鈥�
An economics and business major at 蜜桃传媒, Michael became intrigued with Bitcoin and its potential as a monetary system when it launched in 2009. 鈥淢y interest was academic and theoretical,鈥� he says.
But living in El Salvador, he encountered the challenges of getting money from the United States due to the disconnected state of financial systems. 鈥淭he system works well in the United States, but not in most of the world,鈥� he says. 鈥淚t鈥檚 expensive and difficult. People here spend so much time and money trying to receive remittances from family. I kept thinking Bitcoin could solve a lot of these issues.鈥�
Then Michael met someone at The Gathering who had received a Bitcoin from a donor. He met with an advisor to the donor, who stipulated that the Bitcoin be used in transactional ways and not just cashed in for U.S. dollars, El Salvador鈥檚 official currency. Michael made what he considered a preposterous proposal to create a circular economy within El Zonte, dubbed Bitcoin Beach, to fund Missionsake鈥檚 Community Build initiative. 鈥淭he adviser came back with follow-up questions and said, 鈥極K, let鈥檚 do this.鈥欌��
Even with Bitcoin鈥檚 volatility, the cryptocurrency has transformed the image of El Salvador, formerly known for gangs and violence. The country has now attracted international businesses. 鈥淚t鈥檚 increasing financial education,鈥� Michael says. 鈥淧eople are saving for the first time. It鈥檚 connecting them with the world. These secondary impacts will continue to be positive for El Salvador regardless of what the price of Bitcoin does.
鈥淣ot many people can say their college experience changed the trajectory of their life. I know so many 蜜桃传媒 students who鈥檝e gone on to do amazing and unique things and made a big impact. 蜜桃传媒 shapes you into the person you鈥檒l become. I have many lifelong 蜜桃传媒 friends I remain close to, including some on our board.鈥�