It is revealed that El Salvador has more bitcoin than 10 ETFs and investment funds


Key facts:
  • If El Salvador were a public company, it would be the eighth with the most bitcoin in its treasury.

  • The bitcoin that El Salvador accumulates is equivalent to more than 383 million dollars.

The address in which El Salvador accumulates bitcoin (BTC) is now public. As CriptoNoticias reported last night, President Nayib Bukele ended the mystery and announced the address in which the BTC acquired by his government can be seen.

At the time of this publication, as can be seen in any block explorer, 5,689.70 bitcoin are stored at that address which, at current prices, are equivalent to more than 383 million dollars.

This figure is relatively small compared, for example, to the 205,000 BTC that the company MicroStrategy has in its treasury; or to the 223,645 BTC that back the BlackRock company’s ETF.

Anyway, 5,689 BTC is not a negligible amount. According to the information provided by the BitcoinTreasuries platform, outperforms at least 10 bitcoin-based ETFs and investment fundsof the world, individually.

Investment funds with less bitcoin than El Salvador. Source: BitcoinTreasuries.

Among these funds are some of the ETFs that were approved in the United States this year: those of the companies Invesco Galaxy and Franklin Templeton.

There are also ETFs and investment funds from other countries such as Switzerland, Germany, Brazil and Canada, which manage a smaller amount of bitcoin than El Salvador.

In addition, If El Salvador were a publicly traded company, it would be the eighth with the most BTC in its treasury. This is because it has more BTC than cryptocurrency industry giants like CleanSpark, Exodus, Canaan, and Bitfarms.

As far as publicly traded companies are concerned, El Salvador is only surpassed by MicroStrategy, Marathon, Tesla, Coinbase, Hut 8, Riot and Blockas seen in the image below:

20 publicly traded companies with the most BTC in their treasuries. Source: BitcoinTreasuries.

The fact that Bukele has made public the bitcoin address of the Salvadoran State has been well received by the bitcoiner community, because it allows anyone to audit the country’s reserves in real time.

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