El Salvador made history in 2021 by becoming the first country to adopt bitcoin as legal tender under the leadership of President Nayib Bukele. This innovative decision has enabled significant financial improvements throughout the small Central American nation.
Yesterday, El Salvador x.com/bitcoinofficesv/status/1789788632070431046″>thrown out your website to track your bitcoin national treasury holdings to promote your commitment to bitcoin transparency.
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ONLY IN: El Salvador launched a new website that tracks your twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin Treasury.
El Salvador is winning pic.twitter.com/U7CktWSBet
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1789903951787130921?ref_src=twsrc%5Etfw”>May 13, 2024
The platform is hosted on bitcoin.gob.sv/”>bitcoin.gob.svprovides real-time data on the country's bitcoin reserves.
Using public information from Bukele's tweets and blockchain data, the site details how the country has accumulated more than 5,748 btc worth approximately $360 million.
This stash has been accumulating since 2021 through daily purchases of 1 btc, larger bulk purchases, and mining using geothermal energy.
Previously, Bukele had published a bitcoin address so people could monitor the country's holdings. Now, the new website validates this information and offers public proof of reservations.
The launch of this platform represents an important step towards financial transparency in government operations. By leveraging bitcoin's innate audibility, El Salvador continues to lead the way.
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Despite short-term fluctuations, the country already has 57 million dollars in unrealized benefit due to effective dollar cost averaging.
El Salvador's bitcoin treasury tracker promotes openness and trust in its pioneering bitcoin strategy.
This economic experiment and the adoption of bitcoin are an example for other nations to follow. The website should also help attract more bitcoin investment and innovation in El Salvador.
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