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

SAN SALVADOR, Oct. 9 (Reuters) – El Salvador will invest part of the $ 4 million in earnings it has obtained from its Bitcoin operations to build a veterinary hospital, President Nayib Bukele said on Saturday.

Bitcoin lost nearly 10% of its value on September 9, after the Central American nation became the first in the world to allow cryptocurrency as legal tender. But it has jumped more than 30% in the past week to reach 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 some of that money in this: a veterinary hospital for our furry friends,” Bukele wrote on Twitter.

Bukele said the veterinary hospital will provide basic and emergency care as well as rehabilitation services.

Reporting by Nelson Renteria; Writing by Stefanie Eschenbacher; Editing by William Mallard

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