El Salvador to transfer 'big chunk' of bitcoin to physical vault


FILE PHOTO: Representations of cryptocurrency Bitcoin are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

SAN SALVADOR (Reuters) - El Salvador will transfer "a big chunk" of its bitcoin assets to an offline device that will be stored in a physical vault within the Central American country's territory, President Nayib Bukele said on Thursday.

"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," Bukele, who last month was re-elected to a second term as president, said in a post on X. "It's not much, but it's honest work."

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