El Salvador to train 80,000 public servants in Bitcoin literacy

El Salvador is advancing its position as a leader in cryptocurrency by launching an extensive Bitcoin (CRYPTO:BTC) training program for 80,000 public servants.

This initiative is part of the country's broader strategy to fully integrate Bitcoin into its economy.

The training program is spearheaded by Stacy Herbert, Director of the Bitcoin Office.

Herbert is developing a Bitcoin Module for the Escuela Superior de Innovación en la Administración Pública (ESIAP), the country's higher school of public administration.

This program aims to provide civil servants with top-tier instruction on Bitcoin, fostering excellence and enhancing the nation's financial capabilities.

In addition to this program, El Salvador has been proactive in incorporating Bitcoin education into its school system.

The government introduced a ten-week Bitcoin curriculum in schools in 2022 through a project called ‘My First Bitcoin.’

This curriculum covers essential topics such as Bitcoin nodes, preventing double-spending, and understanding Bitcoin halvings.

As of August 2024, the project has educated over 35,000 students about Bitcoin, demonstrating the nation’s commitment to developing a knowledgeable generation in digital finance.

Alongside these educational initiatives, El Salvador is making significant infrastructural investments to support its Bitcoin strategy.

A $1.6 billion investment from Turkey’s Yilport Holding will modernise key seaports and lay the foundation for the ambitious Bitcoin City project.

This project, proposed by President Nayib Bukele in 2021, will be funded through government-issued Bitcoin bonds.

President Bukele’s administration continues to show strong support for Bitcoin, adopting a dollar-cost-averaging (DCA) strategy to purchase Bitcoin daily.

Currently, El Salvador holds approximately 5,848 BTC, valued at about $348 million.

Additionally, the country is exploring Bitcoin for international trade settlements, aiming to strengthen economic ties and mitigate trade challenges, particularly with Russia.

This effort reflects El Salvador’s commitment to enhancing its geopolitical standing and bypassing traditional banking systems.

At press time, Bitcoin was priced at $60,699.48.