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Where Is Nayib Bukele Actually Storing El Salvador's Bitcoin?
Last week, the sats stacking president of the "Land of Many Volcanoes" announced he was moving thousands of the country's BTC into a bitcoin "piggy bank."
Updated Mar 18, 2024, 3:28 p.m. Published Mar 18, 2024, 3:26 p.m.
"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," President Nayib Bukele, who made history by declaring bitcoin legal tender in September of 2021, said Thursday on X. With something like $400 million in bitcoins at stake, the mind reels with the possibilities of what just he means.
This comic is part of CoinDesk’s “Future of Bitcoin” package published to coincide with the fourth Bitcoin “halving” in April 2024. Lina Seiche is the creator (mommy) of The Little HODLer, one of the world’s most popular Bitcoin merchandise brands.
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A longtime vocal critic of bitcoin, Dimon said the bank he runs will now let clients to buy the crypto.
What to know:
- JPMorgan Chase will soon let clients buy bitcoin, though the bank won’t custody the asset, CEO Jamie Dimon said.
- Dimon reiterated his skepticism toward crypto, calling himself “not a fan” of bitcoin due to its use in illicit activity.
- Despite downplaying blockchain’s importance, JPMorgan's Kinexys platform recently tested tokenized U.S. Treasury settlement on a public blockchain.
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