El Salvador’s President Nayib Bukele has donated two BTC, valued at roughly $133,000, to help the development of 1,000 faculties in Honduras, in line with an Oct. 24 X (previously Twitter) video.
Within the video, the Bitcoin advocate handed the funds to Shin Fujiyama, the founding father of College students Serving to Honduras, a corporation devoted to decreasing poverty by means of training.
This donation aligns with Bukele’s constant advocacy for Bitcoin, which he made authorized tender in El Salvador in 2021. The Nationwide Bitcoin Workplace (ONBTC) of El Salvador confirmed that the funds got here from Bukele’s private pockets, and Fujiyama expressed deep gratitude for the beneficiant contribution.
Fujiyama is at present endeavor a 3,000-kilometer charity run to boost funds for the school-building venture. Within the video, he shared that he nearly deserted the problem out of worry however discovered inspiration from watching movies of Bukele, which gave him the braveness to persevere.
Stacy Herbert, the Director of ONBTC, acknowledged:
“Shin is working 3,000 km to boost the funds to construct these faculties and he’s at present on his journey by means of El Salvador the place the inhabitants has proven him nice love and help. It is a story of particular person sovereignty, private accountability and financial liberty.”
El Salvador’s Bitcoin adoption
This donation additional displays Bukele’s continued efforts to advertise Bitcoin and combine it into on a regular basis life. Nonetheless, BTC’s adoption price in El Salvador stays low.
A latest survey by Francisco Gavidia College in San Salvador discovered that solely 7.5% of respondents use crypto for transactions, whereas 92% don’t. Moreover, simply 1.3% of these surveyed imagine Bitcoin ought to play a key position within the nation’s future.
Nonetheless, regardless of the low adoption price, 58% of respondents expressed confidence within the nation’s path underneath Bukele’s management, significantly in financial and safety areas. The survey polled 1,224 Salvadorans aged 18 and older.
Since making Bitcoin authorized tender in 2021, El Salvador has acquired almost 6,000 BTC by means of a number of purchases and completely different pro-crypto initiatives. Nonetheless, this transfer has confronted criticism from worldwide organizations, notably the Worldwide Financial Fund (IMF), which lately known as for limiting public sector publicity to Bitcoin.
