TechFlow news, according to theblockcrypto, Salvadoran President Nayib Bukele said in a series of tweets on Saturday that El Salvador will use part of its $4 million Bitcoin profit to build a modern-looking pet hospital. President Bukele explained how the trust operates and why there is a surplus—the amount of funds in this trust, named FIDEBITCOIN, is legally defined in U.S. dollars. The trust's balance sheet includes both U.S. dollars and Bitcoin. The state-owned company Chivo, which manages the trust, must pay this amount in U.S. dollars to Bandesal, El Salvador's development bank. "We are not selling any BTC; we are using the dollar portion of the trust because the BTC portion is now worth more than when the trust was established," Bukele stated. As previously reported, Salvadoran lawmakers approved a $150 million fund before Bitcoin officially became legal tender on September 7, and the country has purchased a total of 700 Bitcoins.
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