Cold BTC. While Bitcoin has just decided to return to visit the new cellar, now fixed below $70,000, the competition of maximalist whales continues to intensify. An exercise for which MicroStrategy founder Michael Saylor no longer really has any real competitors. Except perhaps the world’s leading asset manager BlackRock, freshly entered the race with its spot ETF. However, a few floors lower, the El Salvador has just established itself as a significant challenger. Indeed, its newly re-elected president, Nayib Bukele, has just unveiled the very “first Bitcoin piggy bank” from the country. And it contains a lot more BTC than those officially known.
El Salvador emerges as a Bitcoin humpback whale
There are many statuses of crustaceans and other fish of the Bitcoin before reaching the category of marine mammals. Indeed, the ranking begins with shrimp and their wallets composed of less than one unit of BTC. Then the amounts panic and accumulate zeros until arriving at the rare whales with bumps and their more than 5000 BTC on the meter.
A category for which it would now be necessary to create a new, even higher level, such as whale boss. With, as the main applicant, the company MicroStrategy and its temporary 205,000 BTC in stock. Indeed, the company founded by Michael Saylor continues to acquire more bitcoins to the point of making their count difficult to follow.
However, other humpback whales are still finding their way into the Bitcoin waters despite the voracious appetite of this hungry juggernaut. This is for example the case of Salvador, and its president Nayib Bukelethe very first country in the world to have made BTC its official currency.
A status that Michael Saylor calls it a “fundamental misunderstanding”, lost in his “billion dollar building located in cyberspace. » But for those who still manage to keep their feet on the ground, El Salvador establishes itself as an actor impossible to ignore. Even more so since the revelation of much larger reserves of Bitcoin now held in the “first Bitcoin piggy bank” from the country.
A “first Bitcoin piggy bank” with 5689.69 BTC
As every time there is a question of Bitcoin and El Salvador, the floor is up to its president Nayib Bukele on the X network. This is in fact how he has just reveal the address of a cold wallet containing 5689.69 BTC (around $400 million).
“We have decided to transfer a large part of our Bitcoin to a cold wallet and store it in a physical vault on our national territory. You can call it our first Bitcoin piggy bank. It’s not much, but it’s honest work. »
A good amount higher than previously known. Because El Salvador was supposed to have 2861 BTC officials, at the origin of 85 million dollars in capital gains at the last census. But obviously, everyone was (very) far from the mark.
The transparency displayed by President Nayib Bukele allows us to see El Salvador’s Bitcoin reserves in a new light. In any case for the BTC officially held in this “ first Bitcoin piggy bank » which seems to call for others. Because it apparently does not represent all of the available assets. New revelations to come?