El Salvador unveils new platform providing transparent data on Bitcoin investments
El Salvador, the first country in the world to adopt Bitcoin as legal tender, has introduced its own platform that allows the public to access BTC investment data through a personalized mempool.
Based on the latest mempool data, El Salvador currently holds 5,748.76 BTC, which is valued at over $352.8 million.
This recent development by El Salvador sets a new standard for financial transparency in government operations and validates the concept of an immutable public ledger that Bitcoin and cryptocurrency enthusiasts have long advocated for.
The Bitcoin Office, a government agency in El Salvador responsible for overseeing BTC-related projects, announced this new feature through their official X account.
“The Bitcoin Office noted that El Salvador now has its own mempool space where anyone can check our Bitcoin treasury holdings.”
Since Bitcoin became legal tender in 2021, El Salvador has been actively embracing the cryptocurrency. In addition to monitoring their holdings, the mempool data from El Salvador reveals that the government purchased an additional 31 BTC in the past month.
This purchase is part of President Nayib Bukele’s Dollar Cost Averaging (DCA) policy, which was announced in November 2022. As previously reported, Bukele pledged that his government would buy one bitcoin every day “until Bitcoin became unaffordable with fiat currencies.”
El Salvador’s dedication to its Bitcoin holdings is further demonstrated by the transfer of over 5,600 Bitcoin to a cold wallet, which is considered a more secure storage option in the industry.
The crypto community has also expressed their appreciation for El Salvador’s mempool on X. They laud the transparency of El Salvador’s Bitcoin holdings. Criptolawyer, a well-known figure in the Latin American crypto community and the founder of Bitcoin legal advisor and consultancy Legalrocks, has voiced her support.
“Criptolawyer stated that the Government of El Salvador publishes its BTC holdings so that anyone worldwide can audit their Bitcoin reserves in real-time.”
In other news, Bitfinex has launched tokenized debt for El Salvador’s new Hilton hotel.
