5,689 bitcoin for El Salvador
The wallet shows that El Salvador owns 5,689 bitcoin. That is much more than the 2,864 bitcoin that was previously allocated to the country. Therefore, the Nayib Bukele Portfolio Tracker needs to be adjusted. This now indicates a portfolio of approximately $200 million in bitcoin.
Bukele himself shared on March 12 that the estimates from the outside world are incorrect. With the tweet above, he indicated that El Salvador was obtaining additional bitcoin in various ways.
However, no one expected that El Salvador would have about twice as much bitcoin, even after Nayib Bukele’s words. This is a considerable amount of money for El Salvador.
Especially when you consider that the country’s gross domestic product (GDP) is approximately $28.74 billion.
From wallet van El Salvador
The bitcoin balance in El Salvador’s new wallet is the result of several transactions. For example, the first transaction of 1,120 bitcoin came from a so-called multi-signature wallet. This is a wallet that, in the case of El Salvador, requires 3 out of 5 signatures to be able to move the bitcoin.
Ultimately, the transaction was approved by 4 out of 5 signatures and so the bitcoin flew to the new wallet.
The largest transaction was one of 4,000 bitcoin on March 14. That took place two hours after Bukele shared the news. We can probably enjoy Bukele’s bitcoin strategy for a little longer.
He was re-elected on February 4 with more than 80 percent of the votes. Bukele was, of course, the man who started the Bitcoin revolution in El Salvador in September 2021. At the time, El Salvador became the first country in the world to make bitcoin legal tender.
Source: https://bitcoinmagazine.nl/nieuws/dit-land-heeft-ruim-5-000-bitcoin-btc-veel-meer-dan-gedacht
