El Salvador’s President Nayib Bukele has donated 2 Bitcoins, worth $133,000, to help raise funds to build 1,000 schools in Honduras.
Bukele has reportedly donated to Shin Fujiyama, a Japanese philanthropist who is committed to improving education for children in Honduras using his personal fund.
🇸🇻❤️🇭🇳 pic.twitter.com/AFWUXEdEv6
— Nayib Bukele (@nayibbukele) October 23, 2024
The Salvadoran government address has been buying 1 BTC per day since March 16. At present, the Salvadoran government holds 5,913 BTC.
The decision to buy 1 Bitcoin every day is El Salvador’s persistent effort to adopt the cryptocurrency, even as the International Monetary Fund (IMF) continues to pressurize El Salvador to reconsider its Bitcoin policy and reform the regulatory framework around digital assets. One such attempt to pressure El Salvador was made on October 3 when IMF adamantly called on to ‘limiting public sector exposure to Bitcoin’ despite El Salvador’s GDP having gone up 10%+ and its growing tourism since adopting Bitcoin.
As for Bitcoin, the cryptocurrency is Bitcoin rebounded above $67,000 and is now quoted at $67,233.47 after a surge of 0.41% in the past day. Many market analysts have predicted that the crypto may break through the previous high in the next few weeks, indicating a shift in approach ahead of the November 5 election.
On a different note, Fujiyama is a Japanese American philanthropist, who co-founded Students Helping Honduras in 2007 with his sister Cosmo. He is on a 3,000-kilometer journey to raise funds for children in Honduras.
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Source: https://www.cryptonewsz.com/el-salvador-prez-2-bitcoins-for-education/