Bitcoin, the world’s largest cryptocurrency asset, continues to see widespread adoption. The Central American country of El Salvador recently made a massive transfer of BTC to the country’s physical reserve.
El Salvador Transfers Thousands Of Bitcoins To Vault
Nayib Bukel, the president of El Salvador, took the social media platform X (formerly Twitter) to share the development with the crypto community on Friday. According to Bukele, the forward-thinking Bitcoin nation reportedly transferred “a big chunk” of BTC into a “cold wallet” this week, fueling optimism in the country.
The president further noted that the cold wallet will be kept within its national territory in “a real (physical) vault.” A cold wallet lowers the possibility of hacking by storing cryptocurrencies offline and away from the internet. In addition, it is regarded as one of the safest ways to store crypto assets over time.
Bukele has dubbed the development the country’s first Bitcoin
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