El Salvador receives hundreds of donations in bitcoin as a reward for transparency


Since Salvadoran President Nayib Bukele revealed the Bitcoin (BTC) address where the country’s reserves are kept, dozens of donations in satoshis have reached that wallet, totaling, so far, more than 1.5 million sats.

According to the Blockchain.com block explorer, the Salvadoran wallet address received, until now and since the afternoon of Thursday, March 14, 2024, an approximate of 1,594,791 sats, or what is equal to 0.015 BTC. About USD 1,100, on average.

Donations to El Salvador’s Bitcoin wallet keep coming. Source: Blockchain.com.

This is a community move in a clear manifestation of support and support for the bitcoiner policy of the Salvadoran government, which until now had not revealed where, how or with whom The BTC that they have bought and acquired were guarded for two and a half years.

The Mempool.space explorer indicates that, so far, the BTC holdings in the El Salvador wallet exceed 5,689,705 BTC. An approximate USD 386.5 million.

More than 5,680 bitcoins are in the custody of El Salvador. Source: Mempool.space.

As reported by CriptoNoticias, on Thursday, March 14, President Bukele revealed El Salvador’s Bitcoin address in X, a milestone in the history of BTC adoption by that country.

The BTC holdings in the wallet revealed by Bukele far exceed those estimated by the site nayibtracker.com, which only accounts for just over 2,800 bitcoins.

With its reserves, El Salvador has more bitcoins than at least 10 exchange-traded funds (ETFs) and different investment funds. For example, the Central American country has more BTC than the ETFs of the firms Franklin Templeton, Fidelity, Galaxy and others.

In addition to BTC, the treasure of El Salvador It also has tokens from the Bitcoin Ordinals protocol, as well as non-fungible tokens (NFT). In total, the country’s portfolio has 67 Ordinals registrations, as CriptoNoticias reported earlier.

The revelation of the El Salvador wallet address was celebrated by the bitcoin community worldwide. Praising the transparency of the government’s actions, they assured that this country is leading “by example” and demonstrating that BTC can contribute to economic improvement.

Without a doubt, El Salvador once again marks a milestone in the world of finance by showing that the adoption of bitcoin can bring unexpected benefits and generate greater confidence in the financial system.

In fact, donations made by citizens to a State is a sign that they applaud the transparency of a head of State so much that They manifest this by depositing a little sats to increase the treasury of a nation.

Furthermore, these donations stand out because they arise voluntarily, contrary to the taxes imposed by the States.

This article was written with the collaboration of Marianella Vanci (editor)

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