The Central American country, El Salvador, broke new ground in the world by accepting Bitcoin as a legal currency in September.
Although El Salvador’s Bitcoin move was criticized at first, the country started to gain appreciation with its successes with Bitcoin.
El Salvador’s president, Nayib Bukele, is running multiple Bitcoin-focused projects in the country with his innovative vision.
Finally, El Salvador MP Rodrigo Ayala announced on his Twitter account that 20 new schools will be built with the earnings from Bitcoin.
¡20 nuevas escuelas con las ganancias de #Bitcoin! 👏🏻🇸🇻
— Rodrigo Ayala (@rodrigoayalasv) November 2, 2021
Nayip Bukele said that they first started mining Bitcoin using the volcanic energy in the country, and then announced the first amount of Bitcoin they obtained and said that Bitcoin mining continued successfully.
The president of El Salvador said in a statement recently that a veterinary hospital will be built with some of the $4 million profits the country receives from Bitcoins.
Adding the nickname “the coolest dictator in the world” to his Twitter account, which he uses extensively, Bukele states in his posts that there is no turning back from the Bitcoin decision and that the partnership with cryptocurrencies will continue.
*Not investment advice.