El Salvador’s government use Bitcoin (BTC) as legal tender, and according to the Bitcoin Office, the nation now holds about 5,750.76 Bitcoins. The El Salvador Bitcoin Office (ONBTC) is responsible for the country’s cryptocurrency portfolio.
El Salvador bought 400 Bitcoin on September 6, 2021, for $52,250 per bitcoin and a net value of about $20.9 million. The next day Bitcoin became a legal tender in El Salvador, making it the first country in the world to adopt the number one cryptocurrency as a legal tender.
In June 2021, El Salvador Congress lawmakers voted to adopt the number one cryptocurrency, as a legal payment for all transactions, while tax contributions can also be paid in Bitcoin. In November 2022, El Salvador announced that its strategy is to purchase one bitcoin per day
El Salvador’s Bitcoin treasury holdings have been published by government officials, but now a new official and exclusive website allows anyone from everywhere to oversee it in real-time. El Salvador’s government on May 13, 2024, launched a memory pool (mempool) to allow public viewing of current Bitcoin treasury holdings, and unconfirmed and pending transactions for the cryptocurrency network node. According to mempool data from mid-April to mid-May El Salvador purchased 30.01 Bitcoins, for about $1.84 million. Since 2021 the country mined almost 474 Bitcoins, from May 7, to May 14, El Salvador accumulated 7 bitcoins. The bitcoin treasury holdings increased by 32.01 bitcoin from April 15 to May 15.
The country’s bitcoin portfolio value at the current price stands at 356.5 million. Bitcoin has attracted traders’ and investors attention after the halving and as inflation keeps pushing higher across the globe and central banks planning to proceed with interest rates cuts.
You can read her how many bitcoins Microstrategy MSTR have today.
Nikolas has been involved in the finance industry for over fifteen years spanning across Europe and USA with a depth of knowledge and experience within many aspects of the financial markets. Nikolas gained several years experience with some of the Europe’s leading Brokers, as equity analyst, and trader managing accounts for both Private and Corporate Investors. He enjoys both the fundamental and technical aspects of trading focusing on stock markets and all FX majors. Currently, Nikolas provides analysis and comments to online financial publications. Educational background in Economics (BSc), and Finance (MSc).
