(Photo : Image from Unsplash Website) El Salvador $4B Crypto Profits to be Invested in Veterinary Hospital in Country’s CapitalEl Salvador is investing $4 billion of its crypto profits into a veterinary hospital in the country’s capital. Nayib Bukele, the Salvadoran president, noted that Bitcoin would be sold in order to fund this investment. The state is instead drawing USD from its very own Bitcoin trust.
El Salvador Bitcoin Profits
According to the story by CoinTelegraph, Salvadoran president Nayib Bukele has just announced his plans to invest a part of the $4M worth of profits that the company has amassed. This is from its own bitcoin holdings, which is set to be invested into constructing a brand new veterinary hospital located in the San Salvador local capital.
On October 10, 2021, Bukele took to Twitter to reveal that El Salvador’s very own state-operated Bitcoin trust actually holds $4 million worth of profits that it had gleaned coming from its recent embrace of Bitcoin. Bukele then announced that part of the said funds would then be invested into constructing a veterinary hospital that would have four operating rooms, 19 offices, four emergency clinics, and its very own rehabilitation area.
New Veterinary Hospital
He noted that they have decided to invest a portion of that money in a veterinary hospital for their furry friends. Bukele also added that the facility would reportedly aim to be able to perform 64 surgeries and be able to respond to 128 emergencies. This is while tending to about 400 daily general appointments and sharing a computer-generated mock-up of the said hospital to social media.
The news was actually met with mixed reactions on Twitter. A number of Salvadorans actually suggested alternative uses for the country’s new crypto profits. A certain Twitter user Norma De Serrano noted that the money could have been better used as reinvestment towards the existing medical facilities across the country.
Bitcoin Bullish Movements
The comment emphasized that a number of hospitals as well as health units actually needed to be improved while a number of commenters were also expressing their similar concerns. Others even criticized the government for failing to invest in infrastructure located outside of the country’s very own capital.
This particular news now comes as Bitcoin’s official market capitalization has been able to break. Brinkwire Summary News.