26 Feb El Salvador’s Bitcoin-fueled Vet Hospital Opens This Week
Nayib Bukele’s administration announced that the veterinary hospital built by bitcoin profits will open on Saturday (February 26). The President revealed that each treatment will cost $0.25 worth of BTC.
Not Just Daydreaming
Apart from becoming the first county to embrace bitcoin as legal tender, El Salvador has also purchased the primary cryptocurrency on a macro-economic level. In October 2021, the government disclosed they will use its $4 million profit (at that time) from the investment to create a massive veterinary hospital in San Salvador (the capital).
Just four months after the announcement, the facility will open its doors. The exact date is February 24, as the hospital, named Chivo Pets, will stay open 24/7. It will have operating rooms, rehabilitation, hospitalization, quarantine rooms, and other medical features.
It is worth noting that the hospital bears the name of the Chivo Bitcoin wallet. The latter is a mobile app allowing people and businesses to facilitate crypto transactions.
The bitcoin-loving President Nayib Bukele informed that each hospital procedure will cost $0.25 worth of BTC as customers could apply any wallet.
— Nayib Bukele (@nayibbukele) February 25, 2022
Earlier this month, El Salvador introduced its new cryptocurrency education center called “La Casa Del Bitcoin” (translated in English: “The House of Bitcoin”). It provides “free and accessible learning opportunities” for people willing to understand the asset’s merits.
El Salvador Became More Popular After Adopting BTC
According to the Minister of Tourism – Morena Valdez – El Salvador’s decision to make bitcoin an official means of payment has positively impacted the local tourism sector. Specifically, she said it has increased by more than 30% since that legislation.
The politician added that the main flow of visitors had changed as well. Prior to the adoption, most people coming to El Salvador were arriving from Guatemala, Honduras, or Nicaragua. Currently, 60% of tourists are residents of the USA.
In addition, travelers have started spending more money during their stay in the nation. The officials expected profits of $800,000, while the actual number turned out to be over $1.4 million of income in foreign currency.
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