Nayib Bukele, the controversial leader of El Salvador, recently disclosed the public address where the majority of the country’s Bitcoin holdings are stored: 32ixEdVJWo3kmvJGMTZq5jAQVZZeuwnqzo. This revelation has shed light on El Salvador’s larger Bitcoin reserves, showcasing a deeper connection between the nation and the crypto exchange Bitfinex. A thorough analysis of the cold wallet containing approximately 5,693 bitcoins unveiled that 4,560 of these were received from an address linked to Bitfinex.
Moreover, ongoing daily bitcoin purchases announced by Bukele have been consistently flowing into the same address, indicating a continued relationship with Bitfinex. This highlights the significant role that Bitfinex plays in El Salvador’s Bitcoin initiatives, while also underscoring the country’s importance in Bitfinex’s broader goals. El Salvador was actually the second country where Bitfinex Securities was introduced.
On another note, Tether, a sister company of Bitfinex, has invested in the “Volcano Energy” project in El Salvador, a visionary initiative to establish a Bitcoin mining facility powered by geothermal and wind energy. Tether has additional ties to the El Salvadoran government as evidenced by their engagement with DMM Consulting, a lobbying firm associated with Bukele.
These transactions and partnerships emphasize the close relationship between the Central American leader and the two prominent cryptocurrency entities, revealing intricate connections within the industry.
