Cryptocurrency Q&A
Does El Salvador have a bitcoin Treasury?
Does El Salvador have a bitcoin Treasury?
CryptoGladiatorGuard
Sat Jul 06 2024
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5 answers
1321
Have you heard of El Salvador's bold move towards digital currency? I'm curious to know if they've actually established a Bitcoin Treasury. Could you elaborate on whether they've allocated funds to acquire and store bitcoins? Given their recent legislation making bitcoin a legal tender, it seems logical that they would have some sort of institutionalized approach to managing their digital currency holdings. I'm interested to learn if they've taken the necessary steps to safeguard these assets and ensure their long-term value. Additionally, has there been any public disclosure of the size of their bitcoin holdings or the strategies they're employing to grow this Treasury?
5 answers
SakuraSmile
Mon Jul 08 2024
The cold wallet, housing a significant amount of Bitcoin, was kept in a physical vault within the national territory.
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EthereumElite
Mon Jul 08 2024
Accompanying the announcement was a photograph of the wallet, revealing a holding of 5,689.68 BTC.
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GeishaWhisper
Mon Jul 08 2024
At Thursday's prices, this amount translated to a value of $411 million, indicating the substantial scale of El Salvador's Bitcoin holdings.
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Michele
Mon Jul 08 2024
This bitcoin treasury exceeds previously held estimates, positioning El Salvador as a leading nation in cryptocurrency adoption and storage.
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Claudio
Mon Jul 08 2024
El Salvador has implemented a significant step in its cryptocurrency adoption journey by storing its cold wallet securely.
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