El Salvador’s President Nayib Bukele recently made headlines for donating two BTC, worth around $133,000, towards the construction of 1,000 schools in Honduras. This generous contribution was captured in a video shared on X (formerly Twitter), where Bukele handed over the funds to Shin Fujiyama, the founder of Students Helping Honduras.
Bukele’s support for Bitcoin is well-known, as he famously made it legal tender in El Salvador in 2021. The National Bitcoin Office (ONBTC) confirmed that the donation came from Bukele’s personal wallet, showcasing his dedication to using cryptocurrency for social good. Fujiyama expressed deep gratitude for the donation, as he continues his charity run to raise funds for the school-building project.
In a statement, Stacy Herbert, the Director of ONBTC, highlighted the significance of Fujiyama’s efforts, stating, “This is a story of individual sovereignty, personal responsibility, and economic liberty.” The support from the El Salvadoran population during Fujiyama’s run demonstrates the impact of Bukele’s advocacy for Bitcoin.
Despite Bukele’s efforts to promote Bitcoin, its adoption rate in El Salvador remains relatively low. A recent survey conducted by Francisco Gavidia University revealed that only 7.5% of respondents use cryptocurrency for transactions, with a minimal percentage believing Bitcoin should play a significant role in the country’s future. However, a majority of Salvadorans expressed confidence in the country’s direction under Bukele’s leadership, particularly in economic and security areas.
Since becoming legal tender, El Salvador has acquired nearly 6,000 BTC through various purchases and initiatives. While this move has garnered support domestically, it has also faced criticism from international organizations like the International Monetary Fund (IMF), which has advised against extensive public sector exposure to Bitcoin.
Bukele’s donation towards school construction in Honduras exemplifies his commitment to using cryptocurrency for social impact. As he continues to champion Bitcoin in El Salvador, the global community watches closely to see how this innovative approach to finance and philanthropy will shape the future of the region.