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El Salvador President Claims Country Moving Bitcoin to Cold Storage Amid Daily One BTC Investment Plan

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The president of El Salvador says the country is now moving its Bitcoin (BTC) reserve into cold storage.

In a new thread on the social media platform

“We decided to transfer a large portion of our Bitcoin to a cold wallet and store this cold wallet in a physical safe within our national territory. You can call it our first Bitcoin piggy bank. It’s not much, but it’s honest work.”

Cold storage allows you to store digital assets on encrypted external hard drives that are not connected to the Internet for security reasons.

According to Bukele, the Central American country will continue to buy the main crypto asset by market capitalization daily until it is no longer accessible with fiat currencies.

Bukele also republished data shared by crypto investor HODL15Capital indicating that hundreds of dollars in donations are arriving in El Salvador’s crypto wallet.

In 2021, El Salvador became the first nation in the world to designate Crypto King as legal tender.

Last year, the US government became interested in El Salvador’s experience with Bitcoin when a bipartisan group of senators reintroduced a bill that would allow them to track and monitor developments related to the country’s adoption of the leading digital asset.

Bitcoin is trading at $65,247 at the time of writing, a decline of over 4% in the last 24 hours.

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