News - El Salvador launches tracking site for Bitcoin possession

By Mike Hesp

El Salvador launches tracking site for Bitcoin possession

Bitcoin (BTC)

El Salvador's "one Bitcoin a day strategy" can now be followed live on the Internet. Balance of purchases to date: $57 million plus.

The government of El Salvador has published a proof-of-reserves website to promote its own Bitcoin-property to follow.

Retrieved from users can monitor live BTC inflows from the government and on-chain data from the Bitcoin blockchain.

Records show that the country currently holds 5,748 BTC worth US$360 million. It also bought 31 Bitcoin last month for a total of US$1.94 million.

Led by the current president, Nayib Bukele, the country is currently buying one BTC a day. According to Nayib Bukele's portfolio tracking website, the average purchase price is $43,097. This means the country's investments are worth $57.4 million.

2021 declared Bitcoin legal tender in the country in September 2021. And is therefore considered the state's Bitcoin pioneer. Although adoption among citizens is still lagging, the bet seems to be paying off, at least for the government.

Besides El Salvador, Paraguay and Argentina are also among the crypto-friendly countries in South America. In the latter country, the state energy company YPF recently launched a teamed up with Genesis Digital Assets (GDA) to launch a Bitcoin mining facility.

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