El Salvador is taking additional steps to promote Bitcoin adoption among students. However, the country’s portfolio has declined by 60%.
Even during the worst crypto winters, El Salvador prioritises Bitcoin mass adoption. A video shows students learning about Bitcoin in a classroom setting.
When students become adult citizens and begin contributing to the nation, bitcoin education at a young age may drive mass adoption and use cases of cryptocurrency.
A Twitter video has gone viral, showing El Salvadoran teachers teaching their students about Bitcoin as part of a ten-week curriculum. Teachers demonstrate to students how to receive Bitcoin using the Lightning network. Students are also taught about topics like nodes, double-spending, and Bitcoin halvings.
“The idea is for this to be replicated in other schools around the world,” an educator says.
My First Bitcoin, an El Salvador-based Bitcoin education project, claims to have educated over 10,000 students by 2022. In 2023, it plans to expand its reach by 25 times and teach 250,000 students.
Following the legalisation of Bitcoin as a form of payment last year, the country has made a number of contributions to mass adoption. In November of last year, President Nayib Bukele announced that the country was working to build an income and property tax-free Bitcoin city.
Last month, the President established a Bitcoin Office to oversee all cryptocurrency-related initiatives. It will also act as a conduit for individuals and the President to meet in order to discuss Bitcoin and blockchain implementation in the country.
According to a website that tracks El Salvador’s portfolio, the country has been purchasing one Bitcoin per day since November 18 and now has over 2,458 Bitcoins. The Central American country’s Bitcoin holdings are down 61.82%, with an unrealized loss of over $67 million.