• The educational infrastructure program of El Salvador is part of the government’s plan to heighten the use of cryptocurrency after was legalized as tender in early September.
• To educate the public about cryptocurrency, there are 400 schools planned by government officials.

El Salvador’s President Nayib Bukele announced that a second Bitcoin project would be launched. Profits from the sale of cryptocurrency via trust will be used to build Bitcoin Schools.

“In addition to this, I would like to announce that we will build 20 of the #Bitcoin’s first schools with #Bitcoin earnings remaining, all fully-equipped and modern.”
This was the address of President Bukele.

“When we first launched this project, we didn’t have as much money in our FIDEBITCOIN [state BTC trust account] as we do now. For this reason, we have chosen to build the first 20 Bitcoin schools,”
Twitter: The presidency’s press secretary wrote this tweet (NYSE

“We are now seeing additional benefits. The schools that were announced. God willing, more work from the profits a Trust created and a law created by our neglect of opposition.
President Bukele was also added.

“Nothing the opposition claimed about #Bitcoin’s use has occurred, in fact, all that we predicted would occur has actually happened.”
According to the Salvadoran Presidential House’s Twitter account.

Alongside these tangible benefits, the presidential spokesperson suggested that the income obtained from previous BTC transactions would be used to help the country’s people. He indicated also that the new company will not take public money from taxes.

BTC Earnings – Works Programs

The educational infrastructure endowment program called “My New School,” which will begin with the construction of 20 basic education schools, will help Salvadoran children, and young people in general, learn more about cryptocurrencies and blockchain technology. The government’s goal is to build 400 new schools.

In order to increase El Salvador’s school capacity, $200 million will be added by the Central American Bank for Economic Integration.

Bukele stated further in October that $4 million would be invested from Bitcoin Trust to create a new San Salvador veterinary clinic.

To The Flipside

• President Bukele has taken advantage of Bitcoin’s rise to consolidate his controversial cryptocurrency projects, waxing lyrical about its benefits.

Nayib Bukele’s bold bet on Bitcoin has so far been successful, thanks to the growing price of the cryptocurrency, hitting a new high, even despite the technical problems that arose during the launch of the government’s Chivo wallet, initially raising doubts about the BTC project.

Likewise, El Salvador’s controversial Bitcoin Law, which came into force on September 7th, generated a wave of convulsion in the country, primarily led by sectors of the opposition.

What are the reasons to care?

• The Salvadoran government continued to grow its cryptocurrency holdings, as expected given the rise in the price of Bitcoin.
• El Salvador just bought another 420 bitcoins, taking its total to 1,120 bitcoins. Bukele has previously purchased other Bitcoins, taking advantage price declines.
• According to Twitter account “ElSalvadorBTC_,” which analyzes bitcoin transactions carried out in the country, the $30 in BTC which the government gave to Salvadorans on July 9th, to encourage its adoption, now holds a value of $38.

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