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El Salvador to build veterinary hospital from Bitcoin funds

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Posted: Monday, October 11, 2021. 12:17 pm CST.

By Aaron Humes: According to Reuters, President of El Salvador Nayib Bukele has announced plans to build a veterinary hospital from some of the US$4 million it gained in Bitcoin operations.

The Bitcoin Trust, which Congress authorized in August, with a balance of $150 million, now has a “surplus” of $4 million, Bukele said.

Bitcoin lost almost 10% of its value on Sept. 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.

Bukele said the veterinary hospital would provide services for basic and emergency care as well as rehabilitation.

 

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