SAN SALVADOR (Oct 10): El Salvador will invest some of the US$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 authorise the cryptocurrency as legal tender. But it has surged more than 30% in the past week to its highest levels since May.
The Bitcoin Trust, which Congress authorised in August, with a balance of US$150 million, now has a "surplus" of US$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.
Bukele said the veterinary hospital would provide services for basic and emergency care as well as rehabilitation.