El Salvador announced to invest its approximately $2 million Bitcoin profits in building a Veterinary Hospital.
President, Nayib Bukele, famously known as the ‘Bitcoin President’, took to Twitter once again to announce his investment plans from the country’s profits from its Bitcoin holdings and operations. He plans to invest it in a veterinary hospital in San Salvadore, the capital of the country.
The country was recently in the news for being the first country to set up Bitcoin Mining operations powered purely by Volcanic Energy.
He further disclosed that the country’s state-handled Bitcoin trust currently holds $4 million worth of profits from the Bitcoin surge.
He further informed that the investment will be diversified. First, it will build the hospital, including 12 primary offices, 4 emergency clinics, 4 operating rooms, rehabilitation area, isolations, hospitalizations, recovery.”
The Reaction of El Salvadore Citizenry
Twitter users greeted the news with mixed reactions. Many citizens of El Salvadore suggested several alternative uses for the state’s crypto profits.
Following up with a Twitter user, Norma De Serrano, she suggested that it would be better to invest the profits in the existing healthcare industry of the country. She emphasized that many hospitals and health units “need to be improved” with many Salvadorans sharing the same perspective.
The news came in light of the recent surge in Bitcoin’s Market Capitalisation as it hit $1 trillion for the first time since May.