El Salvador launches website to track $360 million Bitcoin treasury
El Salvador made history in 2021 by becoming the first country to adopt Bitcoin as fiat currency under the leadership of President Nayib Bukele. This landmark decision enabled significant financial improvements throughout the small Central American country.
Yesterday, El Salvador launched a website tracking the country’s Bitcoin treasury holdings, further strengthening its commitment to Bitcoin transparency.
JUST IN: 🇸🇻 El Salvador has launched a new website to track their activities. #Bitcoin treasury.
El Salvador won 🔥 pic.twitter.com/U7CktWSBet
— Bitcoin Magazine (@BitcoinMagazine) May 13, 2024
The platform is hosted at bitcoin.gob.sv and provides real-time data on a country’s Bitcoin reserves.
Using publicly available information from Bukele’s tweets and blockchain data, the site details how the country amassed 5,748 BTC, worth about $360 million.
This stash is built through daily 1 BTC purchases starting in 2021, large block purchases, and mining via geothermal energy.
Earlier, Bukele released his Bitcoin address to allow people to monitor the country’s reserves. A new website now verifies this information and provides public evidence of the reserves.
The launch of this platform marks an important step towards financial transparency in government operations. El Salvador continues to lead the way by leveraging Bitcoin’s unique auditory capabilities.
Despite the short-term fluctuations, the country is already recording unrealized gains of $57 million due to effective dollar-cost averaging.
El Salvador’s Bitcoin treasury tracker promotes openness and confidence in pioneering Bitcoin strategies.
This economic experiment and adoption of Bitcoin has become an example for other countries to follow. Additionally, the website will help attract more Bitcoin investment and innovation to El Salvador.
