By Ollie - Cryptocurrency Dealer - 02-11-2021
El Salvador famously became the first country to accept Bitcoin (BTC) as legal tender. Now, El Salvador is using its BTC profits to build new schools across the nation. As the country grows its Bitcoin wealth, the proceeds are then used to fund the construction of about 20 schools fully. The country had only legalised Bitcoin just five months ago where the entire nation is legally allowed to buy and sell Bitcoin and use as a payment option; in that short period of time, El Salvador has taken massive strides with the cryptocurrency. Reportedly, the information regarding the construction of the Bitcoin funded schools originated from a tweet that was sent out by Bitcoin Magazine earlier in the day.
When El Salvador announced its plans to use Bitcoin towards good deed acts like building 20 schools nationwide, the entire crypto community was delighted by the news. El Salvador's consistent achievements in the crypto field regularly keep the world on the edge of its seat. The country has also accomplished using green energy to mine Bitcoin blocks; the renewable source of energy El Salvador is using is the geothermal power of its native volcanoes. The nation has also donated $30 worth of BTC to every citizen registered to obtain a Chivo e-wallet to try and promote more people holding a Bitcoin wallet in the country. El Salvador's free BTC tactic was very successful as more than 2.1 million Bitcoin wallets are now in use. To top off the Bitcoin accomplishments in El Salvador, the country has brought in and installed around 200 BTC ATMs.