I could not say that this represent the salvadoran people, they are clueless of what is going on in the gov office.
Source thread
🚨🚨🚨On-chain data suggests El Salvador may be recycling existing Bitcoin, not buying fresh daily.
On 03 Sept, the address 3KhF5JyMkTtViu2jnp5rffedQbVjydRYKC withdrew 63 BTC from Binance, the exchange typically associated with El Salvador’s acquisitions.
Subsequent activity (through change addresses): 03 Sept: Sent 1 BTC directly to El Salvador. 04 Sept: Sent 1 BTC to Binance → 2.5 hours later, El Salvador received 1 BTC. 05 Sept: Sent 1 BTC to Binance → 1 hour later, El Salvador received 1 BTC. 06 Sept: Sent 1 BTC to Binance → 7 hours later, El Salvador received 1 BTC. 07 Sept: Sent 21 BTC directly to El Salvador. 08 Sept: Sent 1 BTC directly to El Salvador.
The change address still holds 37 BTC, with no ties to known exchanges, likely from mining or government sources, though outside sellers remain possible.
Earlier reports show the IMF explicitly stating that the government is not buying, yet El Salvador claims it is.
This raises a key question: is the country merely shuffling Bitcoin across wallets, sending 1 BTC per day to its Strategic Reserve Wallet?
An official clarification is needed.
Excuse my maximalism, but why should anyone care?
I don’t
The question is, why do we still believe politicians? Look at Milei in Argentina and Bukele in El Salvador. They've all supposedly been Bitcoin libertarians, and look how things are going.
They're not buying new Bitcoin, they're just giving their old Bitcoin a daily dose of fresh air. It’s for its health, you see 😂
and paying miner fees.
The government's Bitcoin dealings appear to be more of a magic trick than a solid investment. One minute it's here, the next it's there.
That’s part of El Salvador’s strategy against quantum attacks! ~lol #1200373
We can check the redeemscripts since this is P2SH 2-of-3, maybe there are some further patterns there.
Lol, strategy-c