In Brief:
- El Salvador to use some of its $4 million profit from bitcoin operations for building a veterinary hospital.
- Nayib Bukele, the country’s president, explained the details in a series of tweets on October 10th.
President Nayib Bukele announced in a series of tweets that El Salvador will use some of the $4 million profit from its bitcoin operations to build a veterinary hospital.
He said that the trust El Salvador established to assist in the legalization of Bitcoin now has a surplus as the cryptocurrency’s value has increased. Before Bitcoin became legal currency on September 7, El Salvador’s lawmakers approved a $150 million fund, and the country also purchased 700 bitcoins.
According to Bukele, a portion of the funds will be used to construct a veterinary hospital with four operating rooms, four emergency clinics, 19 offices, and a rehabilitation area. “We decided to invest a part of that money in this: A VETERINARY HOSPITAL for all our furry friends,” he said.
He further said that the hospital will aim to perform 64 surgeries per day and will respond to 128 emergencies. It will also handle nearly 400 general appointments per day.
The veterinary hospital, according to Bukele, will provide basic and emergency care, as well as rehabilitation.
Alexander Hopter, CEO of BitMEX, published a blog post earlier this month about the ‘Domino effect’ as El Salvador accepted Bitcoin, claiming that developing countries are leading the way in Bitcoin adoption.
Also, not to forget that El Salvador was the first country to recognize Bitcoin as a legal tender after legislation was passed.
