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El Salvador Launches Transparent Bitcoin Investment Data Platform
El Salvadorthe first country in the world to use Bitcoin as legal tender, has launched its own platform that provides public access to BTC investment data via a custom mempool.
According to the most recent data from Mempool, El Salvador currently holds 5,748.76 BTC, worth over $352.8 million.
El Salvador’s latest move sets a new benchmark for financial transparency in government operations. It also validated the much-hyped concept of an immutable public ledger, which has long been championed by Bitcoin and cryptocurrency enthusiasts.
On May 12, the Bitcoin Office, an agency owned by the Salvadoran government responsible for overseeing all BTC-related projects, announced this new feature via their official X account.
“El Salvador now has its own mempool space where anyone can consult our Bitcoin reserves,” The Bitcoin Office noted.
El Salvador has doubled its investments in Bitcoin since it became fiat currency in 2021. In addition to tracking holdings, El Salvador mempool data shows the government has purchased an additional 31 BTC in the past month.
The purchase is part of President Nayib Bukele’s plan Dollar cost averaging (DCA), announced in November 2022. As Crypto.news previously reported, Bukele promised that his government would buy one bitcoin every day “until Bitcoin becomes inaccessible with fiat currencies.”
The nation’s commitment to its Bitcoin holdings was also demonstrated through the transfer of overs 5,600 Bitcoin in a cold walletwhich is considered a more secure storage alternative in space.
Meanwhile, the crypto community also took to X to welcome the El Salvador mempool. They appreciated the transparency of El Salvador’s Bitcoin holdings. Criptolawyer, a well-known personality in the Latin American crypto community and founder of the Bitcoin legal and advisory firm Legalrocks, expressed support for her.
“The government of El Salvador publishes its BTC holdings so that anyone in the world, at any time, can see their Bitcoin holdings in real time.” She said Cryptolawyer.