You might not like Nayib’s approach to implementing the Bitcoin policy in El Salvador. But, his recent actions may change your mind or make you realize that he is a bit cute.
After spending his first day in the green, El Salvador’s president revealed that he would use the BTC investments of his country to build a huge pet hospital.
According to him, the coolest dictator on the planet shared the news via Twitter just hours ago. He also posted other Bitcoin posts, warning of the impending financial crisis and taunting his critics who are now very silent about the fact that the country is profitable.
This pet hospital will be built using #BTC profits. pic.twitter.com/ontf9xiZJT
— Nayib Bukele
(@nayibbukele October 10, 2021
Save the Puppy!
The president of El Salvador shared a video showing what the hospital would look, clarifying that he wasn’t selling any 700 BTC he had acquired for a national trust to facilitate the conversion of BTC to USD for Chivo Wallet users.
Bukele explained his idea in Spanish in one of his tweets. The hospital will have a lot of amenities, including hair salons, offices and classrooms. It will also include medical facilities like operating rooms, consulting rooms, rehabilitation, hospitalization and quarantine rooms.
Nayib Bukele, El Salvador President, has announced a digital representation of the hospital for pets. Image: Gobierno de El Salvador
Bukele estimates that the hospital can handle 384 consultations and more than 100 emergency calls, 64 surgeries, 32 X-rays per day, and will be able manage 64 procedures.
This is possible due to the fact that the rise in Bitcoin has left the country with $4 million surplus in its Bitcoin Fund, without affecting the amount available in BTC. Bukele used a portion his profits to build this huge infrastructure, considering all of the above.
The Bitcoin Controversy in El Salvador Goes Beyond Kittens and Puppies
Reactions worldwide have been mixed ever since Bukele announced his country would adopt Bitcoin legal tender.
One, Vitalik Buterin, co-founder of Ethereum, and other prominent figures, including the World Bank and the International Monetary Fund, have criticised the way Bukele plans to use Bitcoin in his country.
Bitcoin supporters, on the other hand claim that Trump is a visionary. They applaud his decision based on the assumption that it will ultimately be good for Bitcoin.
Each state requires that the population use fiat currencies.
El Salvador forces people to use fiat or #bitcoin.
The government doesn’t force anyone to have either, but it does provide the tools necessary to facilitate this.
What is the problem with Salvadorans having optionality? https://t.co/vN4bxmVDVZ
— Peter McCormack (@PeterMcCormack), October 8, 2021
Financial strategic decisions can cause division in a country. However, as much as we love puppies, the announcement of a pet-hospital was fraught with controversy.
It is a difficult job to be a politician.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.