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The Central American nation moved $400 million in BTC into a cold storage wallet this week.
Bitcoin-forward Central American nation El Salvador this week moved $400 million worth of bitcoin (BTC) – "a big chunk" – into a cold wallet, according to its President, Nayib Bukele.
In a post on X (formerly Twitter), Bukele referred to the new setup as "our first #Bitcoin piggy bank." El Salvador stored the cold wallet "in a physical vault within our national territory," he said, including a photo of a wallet that held 5,689.68 BTC, worth $411 million at Thursday's prices.
A bitcoin treasury of that size places El Salvador's holdings far higher than previously believed. Even on Thursday, public trackers place the nation's trove at less than 3,000 BTC ($205 million). Earlier this week Buckle teased that the country was not simply buying BTC but also getting it by selling passports, through currency conversions for businesses, from mining and from government services.
The revelation represents the first time that Bukele has tied his nation's holdings to a specific address. He previously relied solely on social media posts to make claims about the size of his trove, providing occasional updates whenever El Salvador bought more.
Bitcoin-forward Central American nation El Salvador this week moved $400 million worth of bitcoin (BTC) – "a big chunk" – into a cold wallet, according to its President, Nayib Bukele.
In a post on X (formerly Twitter), Bukele referred to the new setup as "our first #Bitcoin piggy bank." El Salvador stored the cold wallet "in a physical vault within our national territory," he said, including a photo of a wallet that held 5,689.68 BTC, worth $411 million at Thursday's prices.
A bitcoin treasury of that size places El Salvador's holdings far higher than previously believed. Even on Thursday, public trackers place the nation's trove at less than 3,000 BTC ($205 million). Earlier this week Buckle teased that the country was not simply buying BTC but also getting it by selling passports, through currency conversions for businesses, from mining and from government services.
The revelation represents the first time that Bukele has tied his nation's holdings to a specific address. He previously relied solely on social media posts to make claims about the size of his trove, providing occasional updates whenever El Salvador bought more.
