El Salvador will build a veterinary hospital using gains from the legalization of Bitcoin

Follow us on telegram

Due to the increase in quotes in the state fund, there has been a surplus of $4 million

El Salvador will build a veterinary hospital using gains from the legalization of Bitcoin

11.10.2021 - 08:00

706

1 min

0

What's new? President of El Salvador Nayib Bukele has posted a tweet announcing the construction of a new veterinary hospital. The funds for the project will be taken from the gains that the country receives from Bitcoin operations.

We’ll start building this pet hospital with our #BTC profits. pic.twitter.com/ontf9xiZJT— Nayib Bukele 🇸🇻 (@nayibbukele) October 10, 2021

Where did the gains come from? According to the President of El Salvador, the gains arose in the dollar part of a special trust that was created to ensure the exchange of cryptocurrencies for fiat currency. Due to the growth of bitcoin, the fund has a surplus of $4 million, and the state fund can use this money at its discretion.

“Bitcoins and US dollars are kept on the fund's balance sheet. By maintaining the same number of BTC, even if the number of dollars decreases, we can invest 4 million in some project,” the president explained.

Author:

Editorial GetBlock Magazine

Useful material?

Telegram Newsletter Twitter

Incidents

Hackers exploit Taiko, steal $1.7M and force network shutdown

Developers warned of potential risks to bridges across the ecosystem and asked exchanges for assistance.

Jun 22, 2026

Incidents

Washington man sentenced to 5 years for laundering $97 million through cryptocurrency

The defendant helped move funds stolen through investment scams and earned at least $4 million for his role in the operation.

Jun 10, 2026

Incidents

Hacker drains $660,000 from Polymarket's internal wallet

The company is linking the incident to a compromised private key on a service wallet, rather than a smart contract exploit

May 22, 2026

Incidents

THORChain loses $10.8M in hacker attack

Following the incident, the project temporarily halted trading operations and node activity.

May 15, 2026

Incidents

Claude helps recover access to 5 BTC after more than 10 years

The user spent weeks unsuccessfully trying to guess the password until Claude helped find an old wallet backup file

May 14, 2026

Crypto regulations

South Korea tightens control over outbound crypto transfers

Authorities are introducing mandatory registration for companies handling cross-border crypto transactions

May 8, 2026