El Salvador acquired 21 BTC and increased its bitcoin portfolio to $701 million, said the country's president Nayib Bukele.
President Nayib Bukele congratulated the citizens of El Salvador on Bitcoin Day and stated that over the past four years, the country's reserves in the flagship cryptocurrency have increased to 6318 coins.
Last week, the Central Bank of El Salvador invested in gold for the first time since 1990 and purchased about 14,000 ounces for approximately $50 million. This has led to speculation that the government, under pressure from international creditors, will stop investing in cryptocurrency and instead invest in precious metals.
Speculation intensified against the backdrop of the redistribution of assets from the cryptocurrency wallet of the National Bitcoin Office of El Salvador to 14 new wallets, each containing approximately 500 BTC. Officials explained the reason for the division of the fund's assets was to prevent the consequences of threats from quantum computer attacks. However, Jacob Kinge, the CEO of SwanDesk, suggested that the country's government transferred bitcoins to several cryptocurrency vaults for their subsequent sale.
