El Salvador, a nation in Latin America renowned for its adoption of Bitcoin (BTCUSD) as legal tender, has recently taken a notable step in its cryptocurrency investment approach. The government has introduced public access to Bitcoin investment data through a personalized mempool.
The latest data from the mempool reveals that El Salvador presently holds 5,748.76 BTC, with a total value exceeding $352.8 million.
El Salvador Enhances Transparency in Bitcoin Investments
“The Bitcoin Office” highlighted, “El Salvador now hosts its own mempool area, allowing anyone to review our Bitcoin treasury holdings.”
Furthermore, the mempool data from El Salvador indicates that the government acquired an additional 31 BTC over the past month. This purchase is part of President Nayib Bukele’s Dollar Cost Averaging (DCA) strategy, announced in November 2022. Bukele had previously stated that his administration would purchase 1 BTC daily “until Bitcoin became unaffordable with fiat currencies.”
The crypto community has welcomed El Salvador’s mempool, commending its transparency regarding the nation’s Bitcoin holdings. Criptolawyer, a prominent figure in the Latin American crypto community and founder of Legalrocks, a Bitcoin legal advisory and consulting firm, expressed her support.
“The Government of El Salvador discloses its BTC holdings, enabling anyone worldwide to audit their Bitcoin reserves in real-time,” Criptolawyer affirmed.
Despite the government’s robust BTC investment approach, the adoption of Bitcoin in El Salvador remains modest. According to a study by José Simeón Cañas Central American University, only 12% of the local population in El Salvador used Bitcoin for goods and services in 2023, marking a significant decline from 2022 when 24.4% of Salvadorans engaged in Bitcoin transactions.
Source: tredingview.com
