El Salvador's Bitcoin Transparency Initiative
El Salvador, under President Nayib Bukele, adopted Bitcoin as legal tender in 2021 and is strengthening its commitment to financial transparency with the launch of a new website.
The Bitcoin website
The website bitcoin.gob.sv provides real-time updates on the nation's bitcoin reserves. From daily purchases and larger block purchases to geothermally powered mining operations, El Salvador has accumulated over 5,748 BTC, worth about $360 million.
Verification through public data
The website uses publicly shared data from President Bukele's tweets and blockchain analytics to verify and display the country's bitcoin holdings, part of El Salvador's efforts to promote transparency in government financial practices.
Strengthening trust
The unveiling of the national Bitcoin treasury tracker helps cement confidence in El Salvador's Bitcoin adoption strategy. Despite market fluctuations, the nation generated $57 million in unrealized gains through strategic dollar cost averaging.
Future goals
The new treasury tracking system underscores El Salvador's role as a pioneer in cryptocurrency integration at the state level and aims to attract investment and technological advancements to the country.
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