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December 5, 2022
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El Salvador will use its BTC profits to create schools

El Salvador’s next project is to improve cryptocurrency education for locals by building 20 bitcoin schools.

The information that the president of El Salvador, Nayib Bukele, will build 20 new “Bitcoin schools” with the profits made with the cryptocurrency, came by the press secretary of the presidency on Twitter.

According to a local report, the construction of the 20 new facilities supports cryptocurrency education for the locals and joins the 400 schools in the Minha Nova Escola program.

In another tweet, Bukele added:

“Now we are seeing additional benefits, the schools we advertise. And, God willing, more works will come from the product of a Fund that was created and a Law that was created because we ignored the opposition”.

El Salvador is the only state that accepts BTC as legal tender. The historic move became a reality on September 7 this year, despite mounting criticism the country has faced from global organizations like the IMF.

The adoption of bitcoin in El Salvador was not welcomed with joy by all Salvadorans. Some of them even took to the streets to raise their voices against the law. Michael Saylor – MicroStrategy CEO and a prominent supporter of the core digital asset – explained that sparks are inevitable ​​simply because bitcoin is the “most disruptive technology of the decade”.

The schools were announced shortly after President Bukele performed the symbolic act of laying the foundation stone for the first public veterinary hospital in El Salvador, the initiative was also made possible by the investments in Bitcoin made by the Salvadoran government.

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