El Salvador’s Vet Hospital Funded With BTC Opens This Week

Time Stamp: February 27, 2022 10:53 AM
Source Node: 1191180

El Salvador’s Vet hospital which was funded with the help of Bitcoin will open later this week and each procedure will cost $0.25 worth of BTC as we can see more in today’s latest Bitcoin news.

The huge pet hospital located in San Salvador will open its doors starting on Monday and each procedure will cost $0.25 worth of BTC. Bukele’s administration announced that El Salvador’s Vet hospital was built by bitcoin profits and the president revealed how much will each treatment cost.

Apart from becoming the first country to embrace BTC as a legal tender, El Salvador has also purchased the main cryptocurrency on a macroeconomic level and disclosed they will use the $4 million profit from the investment to create a huge veterinary hospital in San Salvador. A few months after the announcement, the facility opened its doors and will be dubbed Chivo Pets. The pet hospital will work 24/7 and will have operating rooms, rehab rooms, and other medical features. It is worth noting that the hospital bears the name of Chivo BTC wallet which is a mobile app that allows people to facilitate crypto transactions.

BTC-loving president Nayib Bukele informed that each hospital procedure will cost $0.25 worth of BTC and customers could apply any wallet. El Salvador even introduced a new crypto education center called “la Casa del bitcoin” and provides free learning opportunities for everyone that wants to learn more about the asset’s merits. According to the Minister of Tourism Morena Valdez, the decision of El Salvador to make BTC an official means of payment, positively impacted the tourism sector and said that it increased by more than 30% after the legislation.

The politician added that the main flow of visitors changed as well and before the adoption, most of the people came to El Salvador from Guatemala, Nicaragua, and Honduras while 60% of the tourists are USA residents. Travelers also started spending money during their stay in the nation and officials expected profits of $800,000 while the actual number turned out to be over 1.4 million of income in the foreign currency.

Nayib Bukele Predicts, btc, bitcoin, el salvador
Nayib Bukele, Source: Wikipedia

As recently reported, The US Senators introduced legislation requiring the State Department to write a new report on El Salvador’s Bitcoin law and to develop a plan to mitigate the potential risks for the US financial system. The proposed law, the Accountability for cryptocurrency in El Salvador Act was introduced by, Bob Mendez, Jim Risch, and Bill Cassidy.

Time Stamp:

More from DC Forecasts