El Salvador's youth receive 9.000 scholarships to learn how to trade bitcoin

"It is very important that we young people are the first to be trained and therefore we send the message to others, because times are changing, technologies are innovating and we cannot be left behind".  

So expressed Raúl Rodríguez, one of the young beneficiaries of the 9.000 scholarships that El Salvador makes available to teach trading with bitcoin (quotation BTC). A complex trading activity with the aim of obtaining profits which, in the particular case of cryptocurrencies, can become risky and volatile, as all those who operate in this sector are well aware. 

Scholarships for young Salvadorans are awarded between various government agencies and a Christian foundation called Jerusalem. Training is in charge of Harvest Trading Cap Academy, a Dominican Republic firm dedicated to stock market investing and cryptocurrency trading, according to local media.  

According to a statement from the company, the intention is "to promote financial education, social development, support the needs of the most defenseless people, as well as improve efficiency and interinstitutional management". 

The investment is 13 million dollars. So far the office of the mayor of San Salvador and the Directorate for the Reconstruction of the Social Tissue have awarded 2.500 scholarships.     

“The time has come to take advantage of the opportunity to form a hotbed of professionals capable of managing their capital using these new technologies,” said the mayor of San Salvador, Mario Durán.  

For his part, Jairo González, CEO of Harvest Trading Cap Academy, said he wanted to become part of El Salvador's history through training.   

It should be remembered that bitcoin is legal tender in the Central American country and the Bitcoin Law came into force on 7 September, as previously reported.  

Other sectors benefit from bitcoin in El Salvador 

Just as El Salvador has invested in training its population to trade bitcoin, it has done so in other areas as well, following the entry of cryptocurrency into that country.  

Last February, the first public veterinary hospital in that Central American nation was inaugurated, financed with part of the profits obtained from the increase in bitcoin in October last year, a figure reported by this medium.   

The Salvadoran tourism sector has also benefited from this since bitcoin began to be legal tender. 1,1 million tourists were expected to arrive, but the figure reached 1,4 million between November and December 2021.