El Salvador is already reaping the fruits of its adventure into the cryptocurrency world.
According to the country’s president Nayib Bukele, Bitcoin will help El Salvador raise money to fund a Pet Hospital project.
It’s barely two months since Bitcoin was approved as a legal tender in El Salvador, and since then, the Central American country has reportedly made $4 million from it.
Mr. Bukele announced on his Twitter account that the profits accrued from bitcon would be dedicated to building a pet hospital.
He, however explained that the country wasn’t going to sell its bitcoin holdings.
“By the way, we’re not selling any #BTC, we are using the USD part of the trust, since the #BTC part is now worth more than when the trust was established,” he said on Twitter.
President Nayib Bukele has endured widespread criticism owing to his support and the role he played in promoting greater cryptocurrency adoption in the country. But he remains hell bent on seeing Bitcoin work in El Salvador.