El Salvador's President Nayib Bukele Donates Bitcoin To Support Funding For 1,000 Schools Through Charity Run

El Salvador president Nayib Bukele donated Bitcoin BTC/USD to well-known philanthropist Shin Fujiyama to help raise funds to build schools in the Central American nation of Honduras.

What Happened: On Wednesday, Stacy Herbert, Director of El Salvaodor's National Bitcoin Office, shared that President Bukele personally donated 2 BTCs from his wallet to Fujiyama.

In a video attached to the post, an emotional Fujiyama can be seen talking to Bukele, expressing his gratitude to the president.

🇸🇻EL SALVADOR PRESIDENT DONATES 2BTC

President @nayibbukele has just personally donated 2BTC from his own wallet to @ShinFujiyama

The funds will go towards building 1000 schools in Honduras

Watch the video and see how emotional Shin gets to receive a call from the President https://t.co/A5EqdSITH3

— Stacy Herbert 🇸🇻🚀 (@stacyherbert) October 23, 2024

The philanthropist was currently on a 3,000 km charity run to raise funds to build 1000 schools in Honduras, a country with high levels of poverty. He founded Students Helping Honduras, an international non-profit to address socio-economic challenges in the region.

Fujiyama reportedly drew inspiration from President Bukele’s videos to undertake this initiative. “He watched videos of President Bukele to gather the courage and the inspiration to just do it,” Hilbert said.

See Also: Crypto On The Ballot? Nope, Even Young Male Voters Prioritize Inflation, Jobs And The Economy

Why It Matters: This donation is significant in light of Bukele’s commitment to Bitcoin. El Salvador has made significant strides in integrating Bitcoin into the mainstream ever since adopting it as legal tender in 2021.

Earlier this year, Bukele reaffirmed El Salvador’s policy of buying one Bitcoin a day, stating that it would continue until Bitcoin becomes unaffordable with fiat currencies. As of this writing, it had 5,912.76 units of the cryptocurrency in its reserves, worth $397 million.

However, in August, Bukele admitted that Bitcoin’s uptake in El Salvador hadn’t been as successful as expected. “We have never forced anyone to adopt it. We offered it as an option, and those who chose to use it have benefited from the rise in Bitcoin,” Bukele said.

Price Action: At the time of writing, Bitcoin was trading at $67,325.66, up 0.29% in the last 24 hours, according to data from Benzinga Pro. 

Photo by Gobierno Danilo Medina on Flickr

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