El Salvador Plans to Use Its BTC Profits to Build The First 20 Bitcoin Schools


El Salvador has announced another initiative related to bitcoin and some of the profits coming from the asset. Nearly a month after revealing that it will build a pet hospital, the crypto-friendly nation is now on its way to creating 20 BTC schools employing some of its investment gains.

Bitcoin Education for The Salvadorans

A recent tweet coming from the Press Secretary of the Presidency outlined El Salvador’s future plans. The governing body revealed that its bitcoin investment has already turned out to be profitable, and as such, it would finance the project with some of the proceeds.

According to a local report, the construction of the 20 new facilities comes to support the cryptocurrency education for locals and joins the 400 schools of the My New School program.

As of the moment, El Salvador is the only state that accepts BTC as legal tender. The historical move became a reality on September 7th this year, despite the enhanced criticism the country faced from global organizations like the IMF.

Somewhat expectedly, the nation’s president – Nayib Bukele – has played a key role in adopting BTC. The Latin American nation owns 1,120 BTC as the last purchase was at the end of October and accounted for 420 BTC.

Nayib Bukele, Source: TicoTimes.com

Still, the bitcoin adoption in El Salvador was not met joyfully by all of the residents. Some of them even took to the streets to raise their voices against the Law. Michael Saylor – Chief Executive Officer at MicroStrategy and a prominent advocate of the leading digital asset – explained that sparks are inevitable simply because bitcoin is the “most disruptive technology of the decade.”

A Pet Hospital Before The Schools

As mentioned above, this is not the first time country officials have announced they would allocate part of the bitcoin profits into a national project, as the previous one included building a massive veterinary hospital.

Last month, the President disclosed that the facility will have hair salons, offices, classrooms, an auditorium, and medical stations such as consulting rooms, operating rooms, rehabilitation, hospitalization, and quarantine rooms.

The hospital will have the capacity to handle 384 consultations, more than 100 emergencies, 64 surgeries, and 32 X-rays every day.


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