El Salvador will use BTC profits to build a veterinary clinic, with many criticizing the president for having a crazy idea of spending BTC, so read more on our latest bitcoin news today.
The President of El Salvador says the government has placed $ 4 million in profits from Bitcoin and it looks like he will be using the money to build a “pet clinic”. Bukele told his country that he would use the profits made with Bitcoin to build a veterinary clinic. President Nayib Bukele implemented legal tender for BTC A in the country in September and has now written that the country’s BTC trust fund is in surplus of $ 4 million due to the skyrocketing crypto price. BTC is up 15.6% in the past week alone and is currently trading at $ 55,274, its highest level since May.
Por lo tanto, la empresa estatal Chivo puede disponer de 4 milones de dólares, sin afectar el monto del fideicomiso.
Esto se hace manteniendo la misma cantidad de #BTC, aunque se reducedca la cantidad de USD.
Por lo que podemos invertir 4 milones de dólares en algún proyecto.
– Nayib Bukele (@nayibbukele) October 10, 2021
Bukele said El Salvador will use BTC profits to build a “pet clinic” and has even posted a computer-generated video of the project:
“By the way, we don’t sell #BTC, we use the USD part of the trust because the # BTC part is now worth more than it was when the trust was founded.”
The original government’s idea was to bypass the sanctions imposed by the US, which is why they wanted Bitcoin in the first place. They want to trust their BTC to facilitate transactions between the US dollar and the asset. El Salvador uses the US dollar, but now companies are required to accept bitcoin payments if they have the technical means as Bukele introduced a new law. Bukele added that the veterinary clinic can handle 128 emergencies and 384 consultations. El Salvador was the first country in the world to make Bitcoin legal tender, and the president has received a lot of criticism from the international community, with the exception of a small group of people who praised it.
The country has a state treasury called Chivo that people can download and do daily transactions. Those who use the wallet will receive a reward of 30 BTC. Bukele was very popular in the former El Salvador because crime has declined in the country since it came to power. The country is one of the top killers in the world, but despite its efforts to reduce the homicide rate, its Bitcoin laws have proven divisive. Last month, thousands of citizens took to the streets to protest the new Bitcoin law and the Bukele dictatorship. However, people from the crypto community praised him for the new law, while the World Bank said the new law will be difficult to implement.
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