El Salvador has made a bold move in its cryptocurrency investment strategy by unveiling a public Bitcoin mempool, showcasing its extensive holdings of nearly $353 million. The government’s Bitcoin Office, responsible for managing BTC projects, announced the new feature, allowing anyone to access and consult the country’s Bitcoin treasury holdings. The mempool data reveals that El Salvador currently holds 5,748.76 BTC. Furthermore, the government has been actively adding to its holdings, purchasing an additional 31 BTC over the last month as part of its Dollar Cost Averaging (DCA) strategy. This strategy was announced by President Nayib Bukele in November 2022, with the aim of buying 1 BTC daily until it becomes unaffordable with fiat currencies. The move has been praised by the crypto community for its transparency. Despite the government’s strong investment strategy, the adoption rate of Bitcoin in El Salvador remains modest, with only 12% of the local population using Bitcoin for transactions in 2023, a significant drop from the previous year.
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El Salvador Unveils Public Bitcoin Mempool, Showcases Nearly $353 Million Holdings
