Salvadoran President Nayib Bukele donated two BTC, price roughly $133,000, to assist the development of 1,000 colleges in Honduras, in keeping with an October 24 X (previously Twitter) video.
Within the video, the Bitcoin advocate handed over the funds to Shin Fujiyama, the founding father of College students Serving to Honduras, a corporation devoted to assuaging poverty by way of training.
The donation is a part of Bukele's ongoing advocacy for Bitcoin, which he made authorized tender in El Salvador in 2021. El Salvador's Nationwide Bitcoin Workplace (ONBTC) confirmed that the funds got here from Bukele's private pockets. Bukele, and Fujiyama expressed their deep gratitude for his or her beneficiant contribution. .
Fujiyama is presently enterprise a 3,000 kilometer charity run to lift funds for the college building challenge. Within the video, he shared that he nearly gave up on the problem out of concern, however discovered inspiration from watching movies of Bukele, which gave him the braveness to persevere.
ONBTC Director Stacy Herbert stated:
“Shin is touring 3,000 km to lift the funds wanted to construct these colleges and he’s presently touring by way of El Salvador the place the individuals have proven him a number of love and assist. It’s a story of particular person sovereignty, private accountability and financial freedom.
Bitcoin Adoption in El Salvador
This donation additional displays Bukele's continued efforts to advertise Bitcoin and combine it into day by day life. Nonetheless, the adoption price of BTC in El Salvador stays low.
A latest survey from the Francisco Gavidia College of San Salvador discovered that solely 7.5% of respondents use crypto for transactions, whereas 92% don’t. Moreover, just one.3% of respondents consider that Bitcoin ought to play a key function within the nation's future.
Nonetheless, regardless of the low adoption price, 58 % of respondents expressed confidence within the nation's route beneath Bukele's management, notably within the financial and safety areas. The survey interviewed 1,224 Salvadorans ages 18 and older.
Since Bitcoin grew to become authorized tender in 2021, El Salvador has acquired almost 6,000 BTC by way of a number of purchases and completely different pro-crypto initiatives. Nonetheless, the transfer has been criticized by worldwide organizations, together with the Worldwide Financial Fund (IMF), which lately known as for limiting public sector publicity to Bitcoin.
