Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.
The biggest and most established global hub for everything crypto, blockchain and Web3.The disclosure by President Nayib Bukele nearly doubles the country's known stash of the digital asset.In a post on X , Bukele referred to the new setup as"our first #Bitcoin piggy bank.
The revelation represents the first time that Bukele has tied his nation's holdings to a specific address. He previously relied solely on social media posts to make claims about the size of his trove, providing occasional updates whenever El Salvador bought more. El Salvador became the first country to purchase bitcoin as a treasury asset in September 2021, when a single coin cost around $52,000. On Thursday BTC prices were north of $72,000, though in the past 24 hours the asset has traded above $73,000 and as low as $68,000.
The on-chain transfers into El Salvador's cold wallet occurred over the past week, though the majority arrived Thursday. Most of the bitcoin held in that wallet came from Bitfinex, according to Arkham Intelligence.
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