El Salvador Will Use Bitcoin profits to support the sponsorship of 20 schools and a hospital
The latest development in El Salvador’s Bitcoin Legal Tender saw President Nayib Bukele retweet several threads from the Presidency’s Press Secretary’s Twitter account, announcing that any profits from the purchase of Bitcoin will be used to fund the construction of 20 schools and a veterinary hospital. Additionally, he revealed that the hospital would create 300 jobs for Salvadorans, noting that the positions will be properly compensated.
“I’d like to declare that with the few million dollars remaining from Bitcoin revenues, we’re going to create the first 20 Bitcoin schools, completely equipped and contemporary.
This hospital is being built using the proceeds from Bitcoin purchases…Additionally, this veterinary facility will employ 300 Salvadorans, providing them with solid and well-paid employment.” These are excerpts from numerous threads on the Press Secretary of the Presidency’s Twitter account.
Along with unveiling new initiatives, the President lashed out at the opposition for hindering the government from implementing its Bitcoin Legal Tender program. Following each statement, President Bukele mocked the opposition Party’s previous attempts to halt the implementation of the country’s Bitcoin legislation. He said that none of the advances would have been feasible if the administration had not pushed back against the opposition’s sustained criticism and pushback.
“The irony is that the opposition was opposed to the Bitcoin Law and the acquisition of Bitcoin. Thank God we ignored them, and the earnings they did not want to exist would aid a large number of animals…
Now we are witnessing more advantages, such as the schools that we have announced, and God willing, other works will result from the earnings of a Trust and a Law that were established as a result of our refusal to listen to the opponents.”
Earlier this year, in June, President Bukele retaliated against the opposition’s strong criticism of the Bitcoin legislation. He said that Congress enacted the Bitcoin law through a proper democratic procedure. However, several members of the opposition have attempted to mislead Salvadorans about Bitcoin by “creating myths and instilling fear where there is none.”
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