El Salvador Bolsters Bitcoin Holdings with $400M Cold Wallet Transfer

President Nayib Bukele announces significant increase in national bitcoin assets amid record high values.

El Salvador has transferred $400 million worth of bitcoin to a cold wallet, significantly increasing its known bitcoin holdings.
The move was announced by President Nayib Bukele, who described the cold wallet as the nation's first 'bitcoin piggy bank'.
This strategic shift comes as bitcoin reaches record highs, with El Salvador's bitcoin now valued at over $400 million.
Critics, including the International Monetary Fund, have previously expressed concerns over the country's adoption of bitcoin as legal tender.
El Salvador's bitcoin initiative continues to draw international attention, with the country now holding more bitcoin than ever before.