El Salvador made history in 2021 by becoming the first country to adopt Bitcoin as a legal tender under the leadership of President Nayib Bukele. This groundbreaking decision has enabled significant financial improvements across the small Central American nation.
Yesterday, El Salvador launched its website to track its national Bitcoin treasury holdings to further its commitment to Bitcoin transparency.
JUST IN: ?? El Salvador released a new website that tracks their #Bitcoin Treasury.
El Salvador is winning ? pic.twitter.com/U7CktWSBet
— Bitcoin Magazine (@BitcoinMagazine) May 13, 2024
The platform is hosted at bitcoin.gob.sv, provides real-time data on the nation’s bitcoin reserves.
Using public information from Bukele’s tweets and blockchain data, the site details how the country has accumulated over 5,748 BTC worth roughly $360 million.
This stash has been built up since 2021 through daily purchases of 1 BTC, larger bulk buys, and mining via geothermal energy.
Earlier, Bukele had released a Bitcoin address for people to monitor the nation’s holdings. Now, the new website validates this information and offers public proof of reserves.
Launching this platform represents a major step towards financial transparency in government operations.By leveraging Bitcoin’s innate audibility, El Salvador continues leading the way.
Despite short-term fluctuations, the country already sits on $57 million in unrealized profit due to effective dollar cost averaging.
El Salvador’s Bitcoin treasury tracker promotes openness and confidence in its pioneering Bitcoin strategy.
This economic experiment and embrace of Bitcoin set an example for other nations to follow. The website should also help attract further Bitcoin investment and innovation in El Salvador.