El Salvador Unveils Public Bitcoin Mempool with $352.8 Million in Holdings

Monday, 13 May 2024, 04:05
El Salvador's government unveils its Bitcoin investment transparency with a personalized mempool, showcasing holdings worth over $352.8 million. Despite a strategic BTC investment approach, local adoption rates remain modest, with only 12% of the population using Bitcoin for transactions. The innovative move towards transparency reflects El Salvador's commitment to cryptocurrency investment accountability.
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El Salvador Unveils Public Bitcoin Mempool with $352.8 Million in Holdings

El Salvador Adds Transparency to Its Bitcoin Investments

The Bitcoin Office, a Salvadoran government-owned body, announced public access to Bitcoin investment data through a personalized mempool. The latest mempool data reveals holdings of 5,748.76 BTC valued at over $352.8 million, with an additional 31 BTC purchased last month. President Nayib Bukele's Dollar Cost Averaging strategy aims for daily purchases until Bitcoin becomes unaffordable with fiat currencies.

The Crypto Community Reacts

The community celebrated the transparency of El Salvador's Bitcoin holdings, acknowledging the government's commitment to real-time auditability. Despite the commendable investment strategy, local Bitcoin adoption remains at 12%, signaling a contrast between investment and usage rates.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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