{"id":52316,"date":"2021-11-04T13:28:29","date_gmt":"2021-11-04T11:28:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=52316"},"modified":"2025-09-03T09:39:16","modified_gmt":"2025-09-03T06:39:16","slug":"el-salvador-to-build-20-schools-using-bitcoin-profits","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/el-salvador-to-build-20-schools-using-bitcoin-profits\/","title":{"rendered":"El Salvador to Build 20 Schools Using Bitcoin Profits"},"content":{"rendered":"<p>El Salvador will allocate part of the profits from Bitcoin operations to financing the construction of 20 modern schools. President Nayib Bukele announced this.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"es\" dir=\"ltr\">&#8220;Furthermore, I want to announce that with a few millions left from the profits of <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> we are going to build the first 20 schools <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>, fully equipped and modern&#8221;, President <a href=\"https:\/\/twitter.com\/nayibbukele?ref_src=twsrc%5Etfw\">@nayibbukele<\/a>. <a href=\"https:\/\/t.co\/qU4nMgrEDb\">pic.twitter.com\/qU4nMgrEDb<\/a><\/p>\n<p>\u2014 Presidential House \ud83c\uddf8\ud83c\uddfb (@PresidenciaSV) <a href=\"https:\/\/twitter.com\/PresidenciaSV\/status\/1455365925016936451?ref_src=twsrc%5Etfw\">November 2, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>The statement was made as part of a ceremony to lay the cornerstone of a veterinary clinic costing $4 million. Its construction is also <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-to-channel-bitcoin-profits-into-building-a-veterinary-clinic\">financed by the country&#8217;s cryptocurrency reserves<\/a>.<\/p>\n<p>In August, authorities <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvadors-parliament-approves-150-million-bitcoin-fund\">established a $150 million fund<\/a>, with the funds of which they began <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-legalises-bitcoin-as-government-buys-550-btc\">acquiring Bitcoin<\/a> to enable exchanging the digital asset for dollars after it was legalized in the country.<\/p>\n<p>At the end of October, the state fund <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvadors-state-bitcoin-fund-buys-an-additional-420-btc\">bought an additional 420 BTC<\/a> in the face of a local price dip and increased the balance to 1120 BTC (~$69.1 million at current rates).<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I want to announce that with several millions of profits from Bitcoin, we are going to build the first 20 schools, fully equipped and modern,&#8221; Bukele said.<\/p>\n<\/blockquote>\n<p>He reminded that the opposition <a href=\"https:\/\/u1f987.com\/en\/news\/salvadoran-opposition-declares-bitcoin-legalisation-unconstitutional\">opposed the passage of the law<\/a> recognizing the first cryptocurrency as the legal tender in the country.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Thank God we ignored them, and the profit, the existence of which they did not want, will benefit many animals,&#8221; the president said during the ceremony.<\/p>\n<\/blockquote>\n<p>Earlier, El Salvador began mining Bitcoin using geothermal volcanic energy.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador will allocate part of the profits from Bitcoin operations to financing the construction of 20 modern schools. President Nayib Bukele announced this.<\/p>\n","protected":false},"author":1,"featured_media":52317,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1278],"class_list":["post-52316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-el-salvador"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=52316"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52316\/revisions"}],"predecessor-version":[{"id":52318,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52316\/revisions\/52318"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/52317"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=52316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=52316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=52316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}