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El Salvador Transfers 5,000 Bitcoins to Cold Wallet, Surpassing Bitcoin Holdings Estimates
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El Salvador moved over 5,000 bitcoins valued at over $400 million into a cold wallet this week, President Nayib Bukele revealed in a March 14 X post.
Bukele’s latest move surprised many in the crypto community, as prior estimates placed El Salvador’s Bitcoin stockpile at around 3,000 BTC.
Cold wallets, also known as hardware wallets, allow users to store their private keys offline in order to ensure their protection from malware or hacking attempts.
We've decided to transfer a big chunk of our #Bitcoin to a cold wallet, and store that cold wallet in a physical vault within our national territory.
You can call it our first #Bitcoin piggy bank
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