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El Salvador Says Its Bitcoin Holdings Are Now Worth $350 Million - BLOOMBERG
- Nation owns 5,750 Bitcoin according to government data
- Government launched tracking website for its holdings
BY , Bloomberg News
(Bloomberg) -- El Salvador now owns 5,750 Bitcoin, worth about $353 million at today’s prices, according to the government.
The National Bitcoin Office this week launched a tracking website for the treasury’s holdings of the coins, in partnership with mempool.space, an organization that publishes Bitcoin transaction data.
El Salvador was the first country in the world to make the cryptocurrency legal tender in 2021. The move was criticized by the International Monetary Fund, who said it poses risks to financial stability.
Nayib Bukele, the nation’s leader, began buying Bitcoin with public funds in 2021 and this year moved most of the country’s Bitcoin to a cold wallet, which allows it to store the coins offline to reduce the risk of hacking.
