Connect with us

Business News

El Salvador Will Invest Bitcoin Profits In Building Veterinary Hospital



El Salvador will invest profits earned through cryptocurrency to build a veterinary hospital

President Nayib Bukele said on Saturday that El Salvador would invest some of the $4 million in profits from its bitcoin operations towards building a veterinary hospital.

Bitcoin lost nearly 10 percent of its value on September 9, when the Central American nation became the first world to authorize the cryptocurrency as legal tender.

But in the last one week, it has increased by more than 30 percent to reach the highest level since May. Mr Bukele said the bitcoin trust, which Congress authorized in August, now has a “surplus” of $4 million, with a balance of $150 million.

“So we decided to invest a part of that money into this: a veterinary hospital for our furry friends,” Mr Bukele wrote on Twitter. He said the animal hospital would provide services for basic and emergency care as well as rehabilitation.


Copyright Indian Lekhak Limited 2021. All Rights Reserved