El Salvador has announced another initiative related to bitcoin and some of the profits from the asset. Almost a month after it revealed it will build a pet hospital, the cryptocurrency friendly nation is now in the process of setting up 20 BTC schools using some of its investment earnings.
Bitcoin Education for Salvadorans
A recent tweet from the presidential press secretary outlined El Salvador's future plans. The governing body revealed that its bitcoin investment has already proved profitable and, as such, would finance the project with part of the proceeds.
According to a local report, the construction of the 20 new facilities comes to support cryptocurrency education for locals and joins the 400 schools of the My New School program.
At the moment, El Salvador is the only state that accepts BTC as legal tender. The historic move became a reality on September 7 this year, despite mounting criticism the country faced from global organizations such as the IMF.
Predictably, nation president Nayib Bukele played a key role in the adoption of BTC. The Latin American nation owns 1.120 BTC since the last purchase took place at the end of October and represented 420 BTC.
However, the adoption of bitcoin in El Salvador was not cheerfully received by all residents. Some of them even are took to the streets to raise their voices against the Law. Michael Saylor, CEO of MicroStrategy and a major proponent of the leading digital asset, explained that sparks are inevitable simply because bitcoin is the "most disruptive technology of the decade".
An animal hospital before schools
As previously mentioned, this is not the first time that national officials have announced that they would be allocating some of the bitcoin profits to a national project, as the precedent involved building a huge veterinary hospital.
Last month, the president revealed that the facility will have hairdressers, offices, classrooms, an auditorium, and medical stations such as consultation rooms, operating rooms, rehabilitation, hospitalization, and quarantine rooms.
The hospital will have the capacity to handle 384 consultations, more than 100 emergencies, 64 surgeries and 32 x-rays each day.
And what do you think of El Salvador's commitment? Isn't using the profits for your community a good thing? So why are so many Salvadorans against it? Let us know what you think in the comments section below.
