El Salvador made 4 million dollars on the Bitcoin pump and is splurging a part of it for a high-end animal hospital called Chivo Pets, and there's even a 3D tour

I'm following the self-proclaimed coolest dictator in the world on Twitter and man, so many mixed feelings on this one. But first let me get to the news:

A few hours ago he tweeted that he had a surprise for everyone, and went on to explain that the financial incentives program from Bitcoin is currently measured in dollars, and that schedule has a surplus of 4 million dollars in the green at the moment, and those proceeds are going to be used for ... kittens. No seriously, they're building a luxurious looking veterinarian hospital. There's even a 3D render of the thing and a long list of specifications of "Chivo Pets" aka like Chivo Wallet, which is slang for hip/cool. Cool Pets Animal Hospital, basically. (It's unclear if that's just a placeholder name, but I wouldn't be surprised*)

Here's the thread play-by-play translated:

Presidente: I have a surprise for you! (my nerves!)

Here we go:

The financial trust "FideBitcoin" is set up in US dollars and must settle with the bank of El Salvador in dollars, as per the statutes.

But there's an accounting discrepancy, and the trust fund is now worth more than what's on the static USD ledger, meaning there's a surplus of 4 million dollars due to the rise in price of Bitcoin

Therefor we can spend/dispose the 4 million without affecting the trust\*.*

So we decided to invest a part of that money in this: A VETERINARY HOSPITAL for all our furry friends. Which will include:

12 basic clinics
4 Emergency clinics
4 Operating rooms
Rehabilitation area
Isolation Wing for Hospitalizations, Recovery
Hairdresser (lol)
7 offices
14 co-work offices
Lab
2 classrooms
An auditorium
xray labs
Which can attend to 384 visits a day, 128 emergency visits, 64 surgeries, 63 hospitalizations, 64 hair cuts (dude), 128 rehabs, 32 xrays, everyday.

You can guess how this went.

There's quite a bit of negative comments about how of all the things the country needs, this is not really one of those items in high demand, and some sarcasm about how it will be useful to tame some hairy people on the streets. The comments are gold.

To el Presidente's defense, he did say "in part", not the full amount. The fact that there was a 3D render of the place seems like this was a proposal that was on hold for a long time and just happened to catch his fancy.

*Clearly, this is a bit of propaganda aimed at young people. It's also great to see that much money flow into existence by doing nothing but holding an appreciating asset that's globally in demand.

**I think he means selling some BTC here, but it wasn't specified. If he didn't, the giant leap of faith here by El Presidente is that Bitcoin will continue to go higher and never dip down, unless he's cashing out all his BTC right now and taking all profits. Otherwise this is going to be underwater by Tuesday if things turn bearish. But Bitcoin only goes up, right?

A cooler surprise would be to provide universal income through Chivo from the mining of Bitcoin from those volcanoes while it lasts, setting a precedent that natural resources in a country could be passively farmed (perhaps more split locally so allocation wouldn't be insignificant), setting an example for places that have bountiful clean energy available to them (big dams, solar farms).

Anyway, this whole thing is playing out like an unrealistic video game plotline in something like Civilization or Far Cry, but it's real life. It's quite surreal to watch!

Source: https://nitter.net/nayibbukele/status/1446936617575387140#m