🇸🇻 El Salvador launches its $360M #Bitcoin Treasury monitoring site, showcasing real-time data on its 5,748 $BTC holdings. pic.twitter.com/xaCKAReJx7
— Cointelegraph (@Cointelegraph) May 13, 2024
A
A
Bitcoin: El Salvador strengthens its transparency with a website dedicated to its crypto treasury
Tue 14 May 2024 ▪
3
min read ▪ by
Getting informed
▪
El Salvador is the first country that adopted Bitcoin as legal tender. Even today, this nation does not do things halfway. It has just unveiled a tool that enhances the transparency of its crypto holdings: Bitcoin Treasury Online.
Monitoring its Growing Bitcoin Treasury
As of May 13, 2024, El Salvador has a Bitcoin treasury of 5,748 BTC. This is valued at around 360 million dollars, according to the current BTC price.
The regular purchase strategy of one Bitcoin per day has thus paid off. It has allowed Nayib Bukele’s country to accumulate significant reserves since adopting Bitcoin in September 2021. Regarding the latest acquisitions, El Salvador bought 7 BTC last week for a total amount of over $438,000.
Given its current Bitcoin holdings, El Salvador has decided to enhance transparency through the website of the Bitcoin Treasury. This site provides complete visibility into El Salvador’s BTC holdings, including:
- historical purchases,
- the average purchase price,
- unrealized gains.
Currently, El Salvador’s unrealized gains on its Bitcoin holdings amount to more than 57 million dollars. This value represents a potential gain on the country’s Bitcoin investment.
A Bet on Bitcoin’s Future
El Salvador’s adoption of Bitcoin remains a debated topic in the world of cryptography. While some see only the cryptocurrency’s volatility and associated risks, renowned investors like Tim Draper view the country’s Bitcoin holdings as a potential lifeline.
If the price of Bitcoin indeed reached $100,000, El Salvador could repay its debts to the IMF. It could even achieve financial independence.
The website of El Salvador’s Bitcoin Treasury is part of a strategy aimed at leveraging Bitcoin’s potential to boost financial inclusion and innovation. The country shows that it was right to adopt Bitcoin as legal tender.
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
A
A
Je m'appelle Ariela et j'ai 31 ans. J'oeuvre dans le domaine de la rédaction web depuis maintenant 7 ans. Je n'ai découvert le trading et la cryptomonnaie que depuis quelques années. Mais c'est un univers qui m'intéresse beaucoup. Et les sujets traités au sein de la plateforme me permettent d'en apprendre davantage. Chanteuse à mes heures perdues, je cultive aussi une grande passion pour la musique et la lecture (et les animaux !)
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.