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Despite starring pro-Bitcoin administrations, Trump and Bukele near crypto disconnected the array during an April 14 White House meeting.
US President Donald Trump hosted El Salvador’s President Nayib Bukele astatine the White House connected April 14, with talks centered connected commercialized and immigration, excluding Bitcoin from the nationalist agenda.
Pressing issues of migration and bilateral information practice acceptable the code of Bukele's archetypal authoritative gathering astatine the White House during Trump's 2nd term.
According to a livestream shared by Bukele’s bureau connected X, Trump raised the anticipation of transferring US citizens convicted of crimes to prisons successful El Salvador, urging Bukele to grow the country’s situation strategy to location much prisoners. “I said homegrowns are next, the homegrowns. You gotta physique astir 5 much places.”
Source: Nayib Bukele
Since taking office, the Trump medication has deported hundreds of alleged overseas transgression individuals to El Salvador nether a $6 cardinal deal betwixt the countries.
Trump besides addressed the ongoing commercialized warfare unleashed by his medication connected April 2, suggesting a imaginable impermanent exemption for automakers aimed astatine easing the modulation of their proviso chains.
“I’m looking astatine thing to assistance immoderate of the car companies with it,” Trump told reporters contiguous astatine the meeting, adding that the US car manufacture “need[s] a small spot of time” to relocate accumulation to the country.
The gathering did not interaction connected integer assets and Bitcoin (BTC) argumentation — a flagship inaugural of some presidents’ administrations.
El Salvador adopted Bitcoin arsenic ineligible tender successful 2021, pioneering the Bitcoin strategical reserve attack aboriginal followed by Trump.
The US president positioned himself arsenic a pro-crypto campaigner during the 2024 election. On March 6, Trump signed an enforcement order to make a Bitcoin strategical reserve and integer plus stockpile successful the United States.
The US holds astir 198,000 BTC, valued astatine implicit $17 cardinal arsenic of March. The reserve is chiefly formed of Bitcoin seized successful transgression and civilian cases, including important amounts from the Silk Road and Bitfinex hack cases.
Related: How overmuch Bitcoin does the US hold, and wherever did it travel from?
El Salvador's BTC plans look IMF opposition
El Salvador signed disconnected successful December a $1.4 cardinal indebtedness statement with the International Monetary Fund (IMF), which included commitments to unwind Bitcoin-related initiatives and trim nationalist assemblage engagement with integer assets.
While the Salvadoran Congress amended its Bitcoin laws successful January to comply with the deal, the authorities has continued its regular purchases of BTC. The country’s National Bitcoin Office’s tracker shows it presently holds 6,147.18 BTC, worthy astir $520.7 cardinal astatine this writing.
Related: Tether volition relocate HQ to El Salvador aft securing license
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