El Salvador is set to provide Bitcoin BTC/USD education and certification to 80,000 public servants as part of a nationwide drive to integrate the leading cryptocurrency into its governance.
What Happened: Stacy Herbert, Director of El Salvaodor’s National Bitcoin Office, announced that a new Bitcoin module would be part of the Higher School of Innovation in Public Administration (ESIAP), an initiative established by President Nayib Bukele in 2021.
“Thousands of El Salvador’s civil servants will soon receive the highest standard of instruction on Bitcoin,” Herbert said. “And this will have the compounding effect of excellence begetting more excellence in El Salvador, the home of new capital markets on Bitcoin.”
Herbert stated that more such announcements on Bitcoin education policy were in the pipeline, and next one could make one go ‘WOW.’
Why It Matters: This announcement comes in the wake of El Salvador’s pioneering embrace of Bitcoin, which was adopted as legal tender in the country in 2021. The nation has since been making strides in integrating the cryptocurrency into its public administration and economic infrastructure.
Earlier in June, President Bukele proposed the establishment of a Bitcoin bank just two weeks into his second term.
Moreover, the country’s ambitious ‘Bitcoin City’ project attracted a $1.6 billion investment from a Turkey-based company, last week, marking the largest private investment in the nation’s history.
The country has adopted a plan to buy one Bitcoin every day, and currently holds 5,849.76 BTC, worth more than $355 million in reserves.
Price Action: At the time of writing, Bitcoin was trading just below $60,738.81, up 2.51% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: Shutterstock.com
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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