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SAN SALVADOR, Oct. 9 (Reuters) – El Salvador will invest a portion of the $ 4 million profits it has made from its Bitcoin deals to build an animal hospital, President Nayib Bukele said on Saturday.
Bitcoin lost nearly 10% of its value on September 9th after the Central American nation became the first in the world to accept cryptocurrency as legal tender. But it is up more than 30% in the past week, to its highest level since May.
The Bitcoin Trust authorized by Congress in August with a balance of 150 million US dollars now has a “surplus” of 4 million US dollars, said Bukele.
“That’s why we decided to invest some of this money in a veterinary clinic for our furry friends,” wrote Bukele on Twitter.
Bukele said the animal hospital will provide basic and emergency care services as well as rehabilitation.
Reporting from Nelson Renteria; Letter from Stefanie Eschenbacher; Adaptation by William Mallard
Our Standards: The Thomson Reuters Trust Principles.
