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Bitcoin: El Salvador strengthens its transparency with a website dedicated to its crypto treasury

Tue 14 May 2024 ▪ 3 min of reading ▪ by Ariela R.
Investissement

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.

Bitcoin Salvador
El Salvador sets up its Bitcoin Treasury monitoring site

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.

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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.

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Ariela R. avatar
Ariela R.

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.