El Salvador’s Cold Wallet: President Bukele Announces First Bitcoin Piggy Bank

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President Nayib Bukele took to Twitter to reveal, “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” he says, emphasizing the importance of prudent asset management. This decision aligns with El Salvador’s ongoing efforts to integrate crypto into its national financial infrastructure. This move will also promote transparency by allowing anyone to monitor the Bitcoin holdings with the confidence that the assets are not being relocated or lent out, displaying expertise in managing digital assets.