El Salvador, the first country to use Bitcoin as its official currency, announced that it will build 20 schools with a portion of the profits it has made with Bitcoin to date. There are other projects planned with Bitcoin profits.
El Salvador, which introduced Bitcoin as the official currency on September 7, 2021, also has hundreds of Bitcoins in its wallet. Buying at lower levels than today over the past weeks El Salvador, also made a big profit by investing in crypto money. El Salvador last bought 420 more Bitcoin a week ago when Bitcoin was around $ 58,400. He had increased the number of Bitcoins in his possession to 1,120.
El Salvador, which was profitable from its last purchase, also announced where to spend the Bitcoin profit it has earned so far. In the post made by the El Salvador Presidential Press Secretariat on Twitter, El Salvador’s profits with Bitcoin 20 schools will be built announced. In addition, another area where the profit will be used was announced.
There are also other projects:
According to the news reflected in the local press of El Salvador, 20 schools to be built are planned to be built under the ‘My New School’ program in the country. Among 400 schools it will include. El Salvador received $200 million in financing from the Central American Bank for Economic Integration (CABEI) in October 2020 to expand education in the country.
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El Salvador’s President Nayib Bukele’s spokesperson said in a statement that profits from previous BTC purchases will go to benefit people, and that El Salvadorans will be involved in the new project. taxes will not be touched. announced. El Salvador has spoken before about what it will do with Bitcoin profits. Bukele stated that a new veterinary hospital would be built in mid-October.
Source :
https://cointelegraph.com/news/el-salvador-to-build-20-bitcoin-schools-with-surplus-from-bitcoin-trust