El Salvador’s President Will Use Bitcoin Profits to Build 20 Schools

Presidential Press Secretary, in a statement on his Twitter account, announced that El Salvador President Nayib Bukele will build 20 new schools with the country's Bitcoin profits.

El Salvador's President Nayib Bukele will use the country's Bitcoin profits to build 20 new schools. The funds come from the Salvadoran Trust for the Adoption of Bitcoin, which is currently enjoying all-time highs of over $60,000. The announcement was made just after President Bukele carried out the symbolic act of laying the first stone of the first public veterinary hospital in El Salvador. This venture was made possible thanks to the success of the country's Bitcoin investment. At the event, President Bukele stated that the veterinary hospital will provide "384 examinations per day, 128 days of emergency service, 64 days of dog and cat surgery, 64 hairdresser appointments, 128 rehabilitation and 32 x-rays". The veterinary hospital will also provide jobs to 300 citizens. Local sources reported that 20 new “Bitcoin” schools have been built in addition to the 400 schools in the My New School Program. It seems that the country does not plan to take profits from the Bitcoin pile to fund the veterinary hospital and new schools, but will instead continue to use the dollars held in the fund. Bitcoin users can't wait to see what will be the next country to adopt Bitcoin as nations are forced to compete or lag behind. Nation-states that are the first to adopt Bitcoin have a huge advantage. Currently, El Salvador is the only country that publicly holds Bitcoin in reserve.