El Salvador’s president says the country is now moving its Bitcoin (BTC) supply into cold storage.
In a new thread on social media platform implement his plan to collect one BTC per day.
“We have decided to transfer a large part of our Bitcoin to a cold wallet and store that cold wallet in a physical vault on 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 keep digital assets on encrypted external hard drives that are not connected to the internet for security reasons.
According to Bukele, the Central American nation will continue to do so purchase the most important crypto asset by market cap daily, until it is no longer affordable with fiat currency.
Bukele also shared data shared by crypto investor HODL15Capital showing hundreds of dollars in donations flowing into El Salvador’s crypto wallet.
In 2021, El Salvador became the first country in the world to designate the crypto king as legal tender.
Last year, the US government showed interest in El Salvador’s experiment with Bitcoin, when a bipartisan group of senators reintroduced a bill that would allow them to monitor and monitor developments regarding the country’s adoption of the flagship digital asset monitors.
Bitcoin is trading at $65,247 at the time of writing, down more than 4% in the past 24 hours.
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Featured image: Shutterstock/Giovanni Cancemi