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El Salvador Unveils Dashboard to Track Bitcoin Treasury

In 2021, under President Nayib Bukele’s leadership, El Salvador made history by becoming the first country to adopt Bitcoin as a legal tender. This revolutionary decision has brought about significant financial advancements across the small Central American nation.

On May 12, 2024, El Salvador launched its website to monitor its national Bitcoin treasury holdings, furthering its commitment to Bitcoin transparency. Hosted at bitcoin.gob.sv, the platform offers real-time data on the nation’s bitcoin reserves.

Utilizing public information from Bukele’s tweets and blockchain data, the website illustrates how the country has amassed over 5,748 BTC, valued at approximately $360 million. This accumulation has occurred since 2021 through daily purchases of 1 BTC, larger bulk buys, and mining powered by geothermal energy.

Previously, Bukele had released a Bitcoin address for public monitoring of the nation’s holdings. Now, the new website authenticates this information and provides public verification of reserves.

The launch of this platform signifies a significant stride towards financial transparency in government operations. By leveraging Bitcoin’s inherent transparency, El Salvador continues to lead by example. The Bitcoin treasury tracker promotes openness and instills confidence in the nation’s pioneering Bitcoin strategy.

This economic experiment and embrace of Bitcoin serve as a model for other nations. The website is expected to attract additional Bitcoin investment and foster innovation in El Salvador.

The post El Salvador Unveils Dashboard to Track Bitcoin Treasury appeared first on CoinFactiva.com.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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