el salvador In 2021, we made history by becoming the first country under government guidance to adopt Bitcoin as legal tender. President Nayib Boukre. This landmark decision significantly improved the overall finances of the small Central American nation.
El Salvador yesterday launched Reinforcing its commitment to Bitcoin transparency, the company tracks its Bitcoin treasury holdings on its website.
JUST IN: 🇸🇻 El Salvador has released a new website to track their situation. #bitcoin Ministry of Finance.
El Salvador won 🔥 pic.twitter.com/U7CktWSBet
— Bitcoin Magazine (@BitcoinMagazine) May 13, 2024
The platform is hosted on bitcoin.gob.svprovides real-time data on the country’s Bitcoin reserves.
The site uses public information from Bukele’s tweets and blockchain data to detail how the country amassed more than 5,748 BTC, worth about $360 million.
This stash has been accumulated since 2021 through daily purchases of 1 BTC, large bulk purchases, and geothermal energy mining.
Prior to this, Bukele had made public his Bitcoin address so that citizens could monitor the country’s holdings. A new website now verifies this information and provides public evidence of reserves.
The launch of this platform represents a major step towards financial transparency in government operations. By leveraging Bitcoin’s innate audibility, El Salvador continues to lead the way.
Despite short-term fluctuations, the country already has $57 million in funding. unrealized gain This is due to effective dollar-cost averaging.
El Salvador’s Bitcoin Financial Tracker promotes openness and confidence in pioneering Bitcoin strategies.
This economic experiment and the adoption of Bitcoin set an example for other countries to follow. The website should also help attract further Bitcoin investment and innovation in El Salvador.
