Nayib Bukele, the Salvadoran President, plans to spend a portion of the $4 million accumulated Bitcoin holdings in building a brand-new veterinary hospital in the local capital of San Salvador.
Using Twitter, Bukele announced that the Salvadoran government-operated Bitcoin trust presently holds $4 million in revenue from its recent bullish Bitcoin investment.
Bukele revealed that Bitcoin holdings would be used to build a veterinary healthcare facility, including 19 workplaces, four emergency clinics, four operating rooms, and a rehabilitation area.
“We made a decision to invest a part of that cash in this: a vet medical facility for our fuzzy pals.”
Bukele added the center would strive to carry out 400 appointments, 64 surgical procedures and respond to 128 emergencies daily. The president went ahead to share a computer-generated mock-up of the healthcare facility on social media.
Así que decidimos invertir una parte de ese dinero en esto:
UN HOSPITAL VETERINARIO para todos nuestros peluditos. Que incluirá:
12 Consultorios básicos
4 Consultorios de emergencia
Área de rehabilitación
— Nayib Bukele 🇸🇻 (@nayibbukele) October 10, 2021
The news met with differing reactions on Twitter, with many Salvadorans suggesting alternate usages for the country’s crypto profits.
Norma De Serrano on Twitter posted that Bitcoin profits would better serve the country by improving existing healthcare facilities across the nation. She emphasized that many medical facilities “need to be improved,” – with several others commenting similar worries.
Others denounced government officials for failing to fund infrastructure projects outside of San Salvador, the country’s capital.
The news comes as BTC’s market capitalization surged over $1 trillion, a first since May, with Bitcoin increasing almost 20% from $47,000 to greater than $55,000 this past week.
Nathan recently got into crypto by investing in stablecoins/altcoins using an algorithmic trading strategy. Shortly thereafter, he began writing about blockchain technology and all things crypto. He has become involved in a number of crypto-related projects and continues to be passionate about all things crypto.