2024-03-28 02:52:58
The President of the Republic, Nayib Bukele, reported today that the Salvadoran State increased its bitcoin (BTC) reserves to 5,700 units.
According to the latest data, known on March 15, the Government increased its reserves by 11 currencies in 10 days, since on that date it had 5,689 bitcoins.
That amount of BTC, according to the Salvadoran president, is kept in a cold wallet, which is a much more secure wallet that does not require an internet connection, and in the same post he placed the address with QR of the digital wallet to which the funds were sent. money.
“We have decided to transfer a large portion 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 is not much, but it is honest work,” the president wrote on that occasion.
According to the calculation, at the current price of BTC, which fluctuates between $70 and $72,000 per unit, the country has more than $400 million as part of its strategy with the currency, which is also legal tender parallel to the US dollar.
On November 17, 2022, President Bukele committed to buying one bitcoin a day. Added to this strategy are the donations received from different parts of the world and the Visas Libertad program that grants Salvadoran citizenship to those who certify an investment of $1 million in bitcoin.