By George Ward
Despite past international interference from the United States and the International Monetary Fund (IMF), El Salvador is pushing forward with its BTC mass adoption strategies. Meanwhile, the nation’s Bitcoin portfolio has dropped by about 6%.
Nevertheless, the country has launched a Bitcoin education program to teach students about Bitcoin.
El Salvador Educates Students On How To Send And Receive BTC
The recent crisis in the crypto sector has caused several countries to change their stance toward digital currencies. Still, El Salvador remains firm in its resolve.
A trending clip on Twitter shows an educator teaching students in the Central American nation about Bitcoin technology, the lightning network, and how to send and receive BTC.
BTC education at an early age has a big chance of driving mass adoption. It would also teach the students about various instances where they can use BTC.
As part of its BTC adoption process, El Salvador has included Bitcoin education in El Salvadoran schools’ ten-week curriculum. There is a practical demo that shows a step-by-step process on how to receive BTC.
In addition, teachers teach the students about Bitcoin halvings, double spending, and nodes. In the video, an educator stated that schools globally should replicate such practices.
Furthermore, El Salvador has a BTC education project called My First Bitcoin. The project reportedly educated more than 10,000 students this year. The initiative aims to reach over 250,000 students next year.
El Salvador’s President Remains Bullish On Bitcoin
After El Salvador legalized Bitcoin as a legal tender in 2021, the country has been working towards increasing mass adoption. Last year in November, Nayib Bukele, the president of El Salvador, said the government was working towards developing a property and income-tax-free BTC city.
In November 2022, the country created a Bitcoin Office to manage all crypto-related initiatives. The office will also link the president and individuals to foster blockchain and BTC implementation.
Before adopting Bitcoin, El Salvador bought large amounts of the leading cryptocurrency. Despite the ongoing crypto winter, the country remains optimistic about Bitcoin.
Moreover, the price of BTC has fallen in 2022 by over 70% compared to its $69K peak price, which it reached last November. The recent FTX crisis has also fueled price drops in the crypto market.
Last month, El Salvador announced that it would start buying one BTC per day. According to reports, the “Bitcoin country” has about 2,458 Bitcoin in its crypto vault. Meanwhile, the value of the country’s BTC holdings has dropped by nearly 62%, with an estimated loss of about. $67 million.