El Salvador Pioneers Public Bitcoin Mempool for Its Treasury

El Salvador takes a crucial step in its Bitcoin revolution. After revealing its treasury reserves via a public mempool, the country is launching an unprecedented Liquid BTC fundraiser on Bitfinex Securities tomorrow, paving the way for a new era of decentralized and accessible financial markets for everyone.

A giant step towards transparency of national BTC reserves

The National Bitcoin Office of El Salvador (ONBTC) has just launched its dedicated mempool, developed in partnership with Mempool.space. This innovative platform provides an unprecedented visibility on the bitcoin reserves held by the State.

Thanks to this public distributed ledger, auditing the country’s BTC investments becomes simpler and more credible. A strong commitment to transparency and accountability. According to live data, the Salvadoran Treasury wallet currently holds 5,748 BTC, approximately 352 million dollars stored in wallet address 32ixEdVJWo3kmvJGMTZq5jAQVZZeuwnqzo.

“With this mempool, the government of El Salvador opens its bitcoin reserves to continuous public oversight, wherever you are in the world,” emphasizes Criptolawyer, a renowned crypto legal expert in Latin America. A world first that demonstrates the potential of Bitcoin as an immutable and universally accessible ledger.

El Salvador solidifying the foundations of a Bitcoin-based economy

The mempool initiative is part of a broader strategy to anchor Bitcoin at the heart of the Salvadoran financial system. Recently, the country has secured its holdings by transferring more than 5,600 BTC into a cold wallet. President Nayib Bukele has also promised to buy 1 BTC per day as part of his “dollar cost averaging” strategy.

These efforts are paving the way for a new era for Bitcoin-related financial markets. Starting tomorrow, El Salvador’s first Liquid BTC fundraiser will be available on Bitfinex Securities, illustrating the country’s commitment to building a crypto-oriented economy.

However, this proactive crypto policy is not universally accepted. It has recently complicated the country’s negotiations with the IMF for a credit line. The national Bitcoin wallet Chivo has also been targeted by hackers, highlighting certain risks.

In summary, with this new milestone in its Bitcoin revolution, El Salvador confirms its status as a pioneer in state-level cryptocurrency adoption. A unique experiment whose success could inspire other nations, despite the challenges ahead.