President Nayib Bukele has set out how he plans to spend the $4 million in profits generated by El Salvador's Bitcoin investment — but not everyone is impressed.
Now, he has announced that these proceeds are going to be spent on a new infrastructure project that’s designed to benefit the country’s population.
Part of the funds are going to be dedicated to a veterinary hospital complete with emergency clinics, operating rooms, a rehabilitation area, and a place where pets can recuperate.
A snazzy computer-generated mock-up of the facility shows how the interior will look. The illustration also suggests that the hospital will be called Chivo Pets (cool pets in English) — meaning it would have the same name as the government’s official crypto wallet.
The Right Priorities?
Unfortunately, not everyone was on board with Bukele’s plans to build a swish new clinic for dogs and cats.
Some Salvadorans shared videos which appeared to show the condition of a bathroom in a facility for human patients — revealing a sink that was caked in dirt. One wrote:
“Pets certainly need attention. However, improvements are not yet seen in community hospitals and clinics.”
Others claimed that hospitals are lacking medicine supplies, and humans should be prioritized because some patients end up waiting months for surgeries to take place.
When asked whether Bitcoin’s surge will leave President Bukele feeling vindicated, CoinMarketCap’s Molly Jane Zuckerman told our podcast:
“I think it’s a little too soon to say. I think one month of profit is not enough to say whether it was ‘worth the pain, worth the problems’ to make Bitcoin legal tender.”