Renowned philanthropist Shin Fujiyama received a substantial Bitcoin payment from El Salvador’s president, Nayib Bukele, as part of a fundraising effort to construct schools in Honduras.
According to a statement made on Wednesday by Stacy Herbert, director of El Salvador’s National Bitcoin Office, Bukele gave two Bitcoins (BTC) straight from his wallet to help Fujiyama’s cause.
Bukeke Donates BTC for Schools
Fujiyama, founder of the non-profit organisation Students Helping Honduras, is currently on a 3,000-kilometer charity run across Central America to raise the necessary funds. The donation is a significant gesture supporting his mission to uplift communities in Honduras through education.
Fujiyama expressed deep gratitude in a video shared by Herbert, where he was visibly emotional while speaking to President Bukele. Herbert revealed that Fujiyama drew inspiration from Bukele’s leadership and Bitcoin initiatives to take on such an ambitious charitable mission. “He watched videos of President Bukele to gather the courage and inspiration to just do it,” Herbert said.
This Bitcoin donation is not just a philanthropic gesture but also highlights Bukele’s dedication to cryptocurrency. Since El Salvador became the first country in the world to adopt Bitcoin as legal tender in 2021, Bukele has consistently supported Bitcoin integration in the country’s financial system.
The president has been a vocal advocate for the cryptocurrency, often emphasizing its potential to boost financial inclusion and economic growth in the country.
Bukele and His Commitment towards Bitcoin
Earlier this year, Bukele reaffirmed his commitment to Bitcoin by announcing that El Salvador would continue purchasing one Bitcoin a day. As of now, the country holds nearly 5,913 BTC, valued at approximately $397 million. This strategy, according to Bukele, will continue until Bitcoin becomes unaffordable in fiat currencies, reflecting his belief in its long-term potential.
While Bukele remains optimistic about Bitcoin’s future, its adoption in El Salvador has not been as widespread as anticipated. Despite Bitcoin’s legal tender status, many Salvadorans remain hesitant to use the cryptocurrency in daily transactions.
Bukele clarified that Bitcoin was offered as an option, and those who chose to use it have seen benefits from the rise in its value. “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.
The International Monetary Fund recently proposed that El Salvador amend its laws regarding Bitcoin. El Salvador believed that bringing earnings from digital assets into the official economy would sustain economic growth.
While the adoption of Bitcoin in El Salvador remains a work in progress, gestures like these highlight the president’s belief in its potential to make a positive impact on communities across Central America, from El Salvador to Honduras.