El Salvador Reveals Bitcoin Address Holding $400 Million

The government of El Salvador has transferred its acquired bitcoins to a cold wallet “within the country’s territory.” President Nayib Bukele disclosed the address holding 5689.69 BTC (~$406.6 million).

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.

You can call it our first #Bitcoin piggy bank ??

It’s not much, but it’s honest work ? pic.twitter.com/dqzedykxT1

— Nayib Bukele (@nayibbukele) March 14, 2024

“You can call it our first Bitcoin piggy bank. It’s not much, but it’s honest work,” commented the head of state.

The number of coins is nearly double the amount (2381 BTC) previously associated with El Salvador by specialized aggregators such as Buy Bitcoin Worldwide.

On March 12, Bukele announced that the country has additional sources of income in the first cryptocurrency.

On February 28, the head of state estimated the unrealized profit from investments in digital gold at 40% or $41.6 million.

Earlier in February, Nayib Bukele was re-elected as President of El Salvador. He promised to continue following the Bitcoin strategy.