President Nayib Bukele of El Salvador has donated two Bitcoin, worth about 124,000 euros, to philanthropist Shin Fujiyama. This donation will help build 1,000 schools in Honduras, a country where many communities struggle with poverty.
Running to Raise Funds
Fujiyama is currently on a 3,000 km charity run to raise money for this cause. In a video shared by Stacy Herbert, director of El Salvador’s National Bitcoin Office, we see Fujiyama getting emotional as he receives the donation. He thanked President Bukele warmly for the support. According to Herbert, Bukele’s videos had inspired Fujiyama, giving him the courage to take on this challenging initiative.
https://twitter.com/stacyherbert/status/1849223444207919526
Bukele’s Bitcoin Strategy
Since El Salvador made Bitcoin legal tender in 2021, the country has worked to lead the way in crypto adoption. Beyond just legalizing Bitcoin, the government has taken steps to weave it into the economy. They regularly buy Bitcoin, and they’ve also backed projects like Bitcoin mining powered by geothermal energy, aiming to promote sustainability.
Earlier this year, Bukele acknowledged that Bitcoin adoption hasn’t been as widespread as he had hoped. However, he still believes in his strategy, and he’s been clear that people can decide for themselves whether to use the flagship cryptocurrency.
Extending Support Beyond Borders
El Salvador’s commitment to Bitcoin goes beyond its own borders. The donation to support school construction in Honduras shows how the country is using its Bitcoin reserves to promote regional development. With over 5,913 BTC in its reserves, valued at nearly 400 million euros, El Salvador is finding ways to invest not just in its own future, but also in the well-being of neighboring communities.
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