Future

2024

Bitcoin

<p>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.</p>
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     <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1f8-1f1fb.png" alt="🇸🇻" class="wp-smiley" style="height: 1em; max-height: 1em;"> El Salvador launches its $360M <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> Treasury monitoring site, showcasing real-time data on its 5,748 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> holdings. <a href="https://t.co/xaCKAReJx7" rel="noopener noreferrer nofollow">pic.twitter.com/xaCKAReJx7</a></p>— Cointelegraph (@Cointelegraph) <a href="https://twitter.com/Cointelegraph/status/1789962995579199926?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 13, 2024</a>
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  El Salvador sets up its Bitcoin Treasury monitoring site
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<h2 id="h-monitoring-its-growing-bitcoin-treasury">Monitoring its Growing Bitcoin Treasury</h2>
<p>As of May 13, 2024, El Salvador has <strong>a Bitcoin treasury of 5,748 BTC</strong>. This is valued at around 360 million dollars, according to the current <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noopener noreferrer nofollow">BTC</a> price.</p>
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<p>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 <a href="https://www.cointribune.com/le-salvador-renforce-ses-reserves-bitcoin-folie-ou-strategie-2/" target="_blank" rel="noopener noreferrer nofollow">the latest acquisitions</a>, El Salvador bought 7 BTC last week for a total amount of over $438,000.</p>
<p>Given its current Bitcoin holdings, El Salvador has decided to enhance transparency through <a href="https://bitcoin.gob.sv/" target="_blank" rel="noopener noreferrer nofollow">the website</a> of the Bitcoin Treasury. This site provides <strong>complete visibility into El Salvador’s BTC holdings</strong>, including:</p>
<ul>
 <li>historical purchases,</li>
 <li>the average purchase price,</li>
 <li>unrealized gains.</li>
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<p>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.</p>
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<h2 id="h-a-bet-on-bitcoin-s-future">A Bet on Bitcoin’s Future</h2>
<p>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 <strong>a potential lifeline</strong>.</p>
<p>If the price of Bitcoin indeed reached $100,000, El Salvador could repay its debts to the <a href="https://www.cointribune.com/le-bitcoin-un-frein-aux-ambitions-du-salvador-avec-le-fmi/" target="_blank" rel="noopener noreferrer nofollow">IMF</a>. It could even achieve financial independence.</p>
<p>The website of El Salvador’s <a href="https://www.cointribune.com/en/bitcoin-in-el-salvador-an-eternal-crypto-honeymoon/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Treasury</a> 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.</p>
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Bitcoin: El Salvador strengthens its transparency with a website dedicated to its crypto treasury

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