El Salvador to Move Bulk of $407 Million Bitcoin Assets into Cold Storage Vault as IMF Loan Talks Continue

El Salvador will transfer a "big chunk" of its bitcoin assets to a cold wallet stored in a physical vault within the country
The current value of El Salvador's bitcoin portfolio is close to $407 million
El Salvador became the first country to adopt bitcoin as legal tender in September 2021
The IMF has been a strong critic of El Salvador's bitcoin adoption as it negotiates a loan with the country
President Bukele has plans to build a tax-free "Bitcoin City" powered by geothermal energy, but construction has not yet begun