El Salvador relies on the education of young people to promote bitcoin adoption!

El Salvador relies on the education of young people to promote bitcoin adoption!

On September 7, 2021, El Salvador became the first country to officially recognize bitcoin (BTC) as legal tender on its territory. Under the encouragement of its president Nayib Bukele, the American country then adopted an economic policy based on bitcoin, especially by buying BTC in large quantities.

Despite the negative balance of this investment, due to the bearish market of the last 12 months, El Salvador continues its policy of adopting cryptocurrency. In particular, he launched an educational project aimed at raising awareness among young people about the use of bitcoin in various forms.

Introduce 250,000 students to bitcoin in 2023

Called My First Bitcoin, the educational bitcoin project in El Salvador has already enrolled 10,000 educated students this year. It is especially intended for the youth of the country, in order to prepare them to build a better nation based on cryptocurrency.

The training program spread over ten weeks allows them in particular to learn how to transfer BTC from the Lightning Network. They also get lessons on concepts like halving, double spending, and how Bitcoin network nodes work to name a few.

In particular, El Salvador hopes that a better understanding of the basics of bitcoin, and its uses, will accelerate mass adoption of the cryptocurrency. It also promotes the objective of training 250,000 new students in 2023 as part of this programme.

Also read: Acceptance of bitcoin as a legal tender did not convince the Salvadorans!

BTC purchases continue!

Along with this initiative, El Salvador continues to expand its bitcoin stash. The country made a return to the bitcoin market on November 18 after an official announcement by its president.

The latter in particular meant that El Salvador would buy one BTC per day from this date. The country’s crypto wallet transaction history website says it currently holds 2,460 BTC.

However, the various efforts made by the government to encourage the local population to adopt bitcoin do not seem to convince the latter. A study by the University of Central America showed that 77% of Salvadorans believe that their president should not “continue spending public money to buy bitcoins”.

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