El Salvador to use bitcoin gains to fund veterinary hospital: President
1 min read . Updated: 10 Oct 2021, 01:29 PM IST
PremiumBitcoin lost almost 10% of its value on September 9, after the Central American nation became the first worldwide to authorize the cryptocurrency as legal tender
El Salvador will invest some of the $4 million gains it has obtained from its bitcoin operations to build a veterinary hospital, President Nayib Bukele said on Saturday.
Bitcoin lost almost 10% of its value on September 9, after the Central American nation became the first worldwide to authorize the cryptocurrency as legal tender. But it has surged more than 30% in the past week to its highest levels since May.
The Bitcoin Trust, which Congress authorized in August, with a balance of $150 million, now has a "surplus" of $4 million, Bukele said.
"So we decided to invest a part of that money in this: a veterinary hospital for our furry friends," Bukele wrote on Twitter.
Bukele said the veterinary hospital would services for basic and emergency care as well as rehabilitation.
