#elsalvador ’s #Bitcoin wallet gets sats, cats and a cypherpunk manifesto
Following the public announcement by El Salvador President Nayib Bukele about the country's decision to store a significant portion of its Bitcoin holdings in a secure cold wallet, Bitcoin enthusiasts wasted no time in contributing approximately $700 worth of satoshis to the newly established "Bitcoin piggy bank." Within hours, dozens of donations flooded in, adorning the wallet with cherished "rare sats" and unique Ordinals.
As of March 14, the wallet holds $388 million in Bitcoin, as reported by Bitcoin explorer Mempool. It's not just a currency repository but also stores cultural artifacts and support expressions. Contributions include 67 Ordinals donations, including BRC-20 tokens, text, images, a 3D "runestone," and even a copy of the "Cypherpunk Manifesto" by Eric Hughes from March 1993, advocating digital privacy.
Moreover, the X account of HODL15Capital has expressed admiration for Bukele and El Salvador's transparent approach in this endeavor.
The transfer of 5,689 Bitcoin into the wallet marks a significant increase from the previously reported holdings of 2,864 BTC, valued at $195 million, held in the government's treasury, according to the Nayib Bukele Portfolio Tracker. Bukele clarified that this figure excludes Bitcoin acquired through various government initiatives, such as the passport program, mining ventures, and conversion of $BTC to US dollars for local businesses.
The fund transfer involved multisig authorization. Initially, 1,120 BTC ($76.5 million) was transferred on March 13 via a 3/5 multisignature process. Another significant transfer of 4,000 BTC ($273 million) occurred on March 14, shortly after Bukele's announcement. Bukele, reelected in February with over 80% of the votes, championed El Salvador's Bitcoin adoption since September 2021, making it the first nation to embrace Bitcoin as legal tender.
Source - cointelegraph.com
