El Salvador's Bukele to transfer 'big chunk' of Bitcoin assets to a physical vault
El Salvador will transfer “a big chunk” of its bitcoin assets to an offline device that will be stored in a physical vault within the Central American country’s territory, President Nayib Bukele said on Thursday.
SAN SALVADOR — El Salvador will transfer “a big chunk” of its bitcoin assets to an offline device that will be stored in a physical vault within the Central American country’s territory, President Nayib Bukele said on Thursday.
“We’ve decided to transfer a big chunk of our Bitcoin to a cold wallet, and store that cold wallet in a physical vault within our national territory,” Bukele, who last month was re-elected to a second term as president, said in a post on X. “It’s not much, but it’s honest work.”
According to Bukele’s social media account on Thursday, El Salvador’s bitcoin portfolio is at close to $407 million.
The true size of the holdings remains unclear, but a recent rally in bitcoin values has reignited interest in the world’s largest, if volatile, cryptocurrency.
Bitcoin on Thursday hit a record high of $73,800.
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