El Salvador made history in 2021 by becoming the first country to adopt Bitcoin as legal tender under the leadership of President Nayib Bukele. This groundbreaking decision led to significant financial improvements throughout this small Central American country.
Yesterday, El Salvador spear its website to track its domestic Bitcoin treasury holdings to reinforce its commitment to Bitcoin transparency.
JUST IN: 🇸🇻 El Salvador has released a new website that tracks their #Bitcoin Treasury.
El Salvador wins 🔥 pic.twitter.com/U7CktWSBet
– Bitcoin Magazine (@BitcoinMagazine) May 13, 2024
The platform is hosted by bitcoin.gob.svprovides real-time data on the country's bitcoin reserves.
Using public information from Bukele's tweets and blockchain data, the site details how the country has accumulated more than 5,748 BTC, worth approximately $360 million.
This reserve has been built since 2021 through daily purchases of 1 BTC, larger bulk purchases, and mining via geothermal energy.
Previously, Bukele released a Bitcoin address allowing people to monitor the country's assets. Now, the new website validates this information and offers the public proof of reservations.
The launch of this platform represents a major step towards financial transparency in government operations. By leveraging Bitcoin’s innate audibility, El Salvador continues to lead the way.
Despite short-term fluctuations, the country already has $57 million in unrealized profit due to an efficient dollar cost averaging method.
El Salvador's Bitcoin Cash Tracker promotes openness and trust in its pioneering Bitcoin strategy.
This economic experience and the adoption of Bitcoin set an example for other countries. The website is also expected to help attract more Bitcoin investment and innovation to El Salvador.