David Edwards
El Salvador’s President, Nayib Bukele, has made a donation of 2 Bitcoins, valued at approximately $133,000, to help fund the construction of 1,000 schools in Honduras. The donation was made to Japanese philanthropist Shin Fujiyama, who has long been committed to improving educational opportunities for children in Honduras.
The Salvadoran government has been steadily acquiring Bitcoin, purchasing 1 BTC per day since March 16. Currently, El Salvador holds 5,913 Bitcoins, showcasing its ongoing commitment to cryptocurrency adoption, despite opposition from the International Monetary Fund (IMF). The IMF has consistently urged El Salvador to limit its exposure to Bitcoin, citing potential risks, even as the country’s GDP has grown by more than 10% and tourism has seen a significant boost since adopting Bitcoin.
Bitcoin itself has rebounded in the market, currently trading at $67,233.47 following a 0.41% increase over the past day. Many analysts suggest that Bitcoin could surpass previous highs in the coming weeks, with a crucial election approaching on November 5.
Shin Fujiyama, the recipient of Bukele’s donation, co-founded Students Helping Honduras in 2007 with his sister, Cosmo. He is currently on a 3,000-kilometer fundraising journey to support children’s education in the country.
