US President Donald Trump hosted El Salvador’s President Nayib Bukele on the White House on April 14, with talks centered on trade and immigration, excluding Bitcoin from the general public agenda.
Pressing problems with migration and bilateral safety cooperation set the tone of Bukele’s first official assembly on the White House throughout Trump’s second time period.
According to a livestream shared by Bukele’s workplace on X, Trump raised the opportunity of transferring US residents convicted of crimes to prisons in El Salvador, urging Bukele to broaden the nation’s jail system to accommodate extra prisoners. “I mentioned homegrowns are subsequent, the homegrowns. You gotta construct about 5 extra locations.”
Source: Nayib Bukele
Since taking workplace, the Trump administration has deported lots of of alleged international prison people to El Salvador underneath a $6 million deal between the international locations.
Trump additionally addressed the continuing trade warfare unleashed by his administration on April 2, suggesting a possible non permanent exemption for automakers aimed toward easing the transition of their provide chains.
“I’m one thing to assist a number of the automobile corporations with it,” Trump instructed reporters current on the assembly, including that the US auto business “want[s] a bit of little bit of time” to relocate manufacturing to the nation.
The assembly didn’t contact on digital property and Bitcoin (BTC) coverage — a flagship initiative of each presidents’ administrations.
El Salvador adopted Bitcoin as authorized tender in 2021, pioneering the Bitcoin strategic reserve strategy later adopted by Trump.
The US president positioned himself as a pro-crypto candidate in the course of the 2024 election. On March 6, Trump signed an executive order to create a Bitcoin strategic reserve and digital asset stockpile within the United States.
The US holds nearly 198,000 BTC, valued at over $17 billion as of March. The reserve is primarily shaped of Bitcoin seized in prison and civil instances, together with vital quantities from the Silk Road and Bitfinex hack instances.
Related: How much Bitcoin does the US hold, and where did it come from?
El Salvador’s BTC plans face IMF opposition
El Salvador signed off in December a $1.4 billion mortgage settlement with the International Monetary Fund (IMF), which included commitments to unwind Bitcoin-related initiatives and cut back public sector involvement with digital property.
While the Salvadoran Congress amended its Bitcoin laws in January to adjust to the deal, the federal government has continued its every day purchases of BTC. The nation’s National Bitcoin Office’s tracker shows it presently holds 6,147.18 BTC, price about $520.7 million at this writing.
Related: Tether will relocate HQ to El Salvador after securing license
