El Salvador holds more Bitcoin (BTC) than expected

El Salvador, a Central American country moving toward Bitcoin this week moving President Nayib Bukele revealed in a post on X (formerly Twitter) that $400 million worth of Bitcoin (BTC) is in a cold wallet. Bukele called the new setup “our first #Bitcoin piggybank.” El Salvador said it stored the cold wallet in a “physical vault within our territory,” including a photo of the wallet holding 5,689.68 BTC, worth $411 million at Thursday prices. A Bitcoin vault of that size would make El Salvador’s reserves much higher than previously thought. Even on Thursday, public trackers valued the country’s assets at less than 3,000 BTC ($205 million). Earlier this week, Bukele teased that the country is not only buying BTC, but also obtaining it through passport sales, corporate currency conversion, mining and government services.