Time for some good news. The government of El Salvador has decided to build 20 new schools, using the profits the country has made on bitcoin. Local media reported that the construction of the 20 new schools should ensure that the population is better educated in cryptocurrency. This is part of a larger programme called My New School, in which 400 schools are participating.
Profit from first bitcoins purchase
El Salvador has started a fund and this is filled with bitcoin and dollars. If the target value of this fund is exceeded, for example because bitcoin rises, dollars are taken from the fund. The president of El Salvador Nayib Bukele says that for the next project, the surplus from this fund will be used to build 20 schools.