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 El Salvador has recently <a style="color: #0000ff;" href="https://x.com/bitcoinofficesv/status/1789788632070431046">unveiled </a>its proof-of-reserves platform, a website that allows for real-time monitoring of the nation’s Bitcoin holdings through on-chain data. 
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The website is hosted at bitcoin.gob.sv, and it offers tools to obtain insights into the country’s cryptocurrency reserves. 
The South American country currently holds about 5,748 BTC, valued at approximately $360 million according to current exchange rates.&nbsp; 
According to data displayed on the platform, the nation has accumulated 31 BTC over the last month, valued at $1.94 million. In the past week alone, El Salvador has acquired 7 BTC worth over $438,000, which is in line with its daily accumulation objective.&nbsp; 
Since 2021, El Salvador has strategically invested in Bitcoin after being the first country to adopt Bitcoin as a legal tender under President Nayib Bukele’s leadership. The country employs a dollar-cost averaging strategy with an average buying price of $43,097 per BTC. This approach has resulted in an unrealized profit of over $57.4 million on its Bitcoin holdings, <a href="https://nayibtracker.com/">as indicated by the Nayib Bukele Portfolio Tracker website.</a> 
According to President Bukele, the objective was to foster financial inclusion, streamline remittance payments, and attract financial innovation.&nbsp; 
Venture capitalist Tim Draper has <a style="color: #0000ff;" href="https://twitter.com/TimDraper/status/1766171009793814636?t=jGSmUXW4eUl4dxrru_XnGg&amp;s=19">suggested </a>that El Salvador’s Bitcoin holdings could lead to financial independence. He projected that if Bitcoin reaches $100,000, the country could pay off its loans to the International Monetary Fund. 
In another development, Bitfinex Securities <a style="color: #0000ff;" href="https://defi-planet.com/2024/04/bitfinex-securities-breaks-new-ground-in-el-salvador-with-first-of-its-kind-tokenized-debt-bonds-offering/">recently launched tokenized debt bonds</a> in El Salvador after being the first licensed platform under the nation’s Digital Asset Securities Law. These bonds, trading under the ticker HILSV on the Liquid Network, are set to raise US$6.25 million, offering investors a 10% coupon over a 5-year term, with a minimum stake of US$1,000 and additional perks such as complimentary hotel nights based on investment size. 
The move is expected to enhance the country’s capital market and lay the groundwork for future financial innovations. 
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The post <a href="https://defi-planet.com/2024/05/el-salvador-launches-bitcoin-reserves-tracker-website/">El Salvador Launches Bitcoin Reserves Tracker Website</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

El Salvador Launches Bitcoin Reserves Tracker Website

DeFi Planet

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