El Salvador holds 400 bitcoin, price jumps

FILE PHOTO: El Salvador President Nayib Bukele speaks during a news conference in San Salvador, El Salvador, June 6, 2021. REUTERS/Jose Cabezas/File Photo

SAN SALVADOR (Reuters) - El Salvador holds 400 bitcoins, President Nayib Bukele said on Monday, one day before the country formally adopts it as legal tender alongside the U.S. dollar.

Bitcoin temporarily climbed above 1.49% to more than $52,680 on Monday evening, Refinitiv Eikon data showed, with a Reuters market analyst putting it on track for $56,000-$56,300.