El Salvador to use bitcoin gains to fund veterinary hospital, president says

El Salvador to use bitcoin gains to fund veterinary hospital, president says

El Salvador to use bitcoin gains to fund veterinary hospital, president says

Information about El Salvador to use bitcoin gains to fund veterinary hospital, president says

Kevin David


By Nelson Renteria
SAN SALVADOR (Reuters) – 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 Sept. 9, after the Central American nation became the first worldwide to authorize the cryptocurrency as legal tender https://www.reuters.com/technology/one-month-el-salvadors-bitcoin-use-grows-headaches-persist-2021-10-07. 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.

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