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Cryptocurrency News Articles

US President Donald Trump hosted El Salvador’s President Nayib Bukele at the White House

Apr 15, 2025 at 06:01 am

Pressing issues of migration and bilateral security cooperation set the tone of Bukele's first official meeting at the White House

U.S. President Donald Trump hosted El Salvador’s President Nayib Bukele at the White House on April 14, with talks focused on trade and migration, leaving Bitcoin out of the public agenda.

Pressing issues of migration and bilateral security cooperation set the tone of Bukele's first official meeting at the White House during Trump's second term.

According to a livestream shared by Bukele’s office on X, Trump raised the possibility of transferring U.S. citizens convicted of crimes to prisons in El Salvador, urging Bukele to expand the country’s prison system to house more prisoners. "I said homegrowns are next, the homegrowns. You gotta build about five more places."

Since taking office, the Trump administration has deported hundreds of alleged foreign criminal individuals to El Salvador as part of a $6 million deal between the two countries.

Trump also discussed the ongoing trade war that his administration launched on April 2, hinting at a potential temporary exemption for automakers to facilitate the transition of their supply chains.

"I’m looking at something to help some of the car companies with it," Trump told reporters at the meeting, adding that the U.S. auto industry "need[s] a little bit of time" to move production back to the country.

The meeting did not delve into digital assets and Bitcoin (BTC) policy, a flagship initiative of both presidents' administrations.

El Salvador adopted Bitcoin as legal tender in 2021, becoming a pioneer in the Bitcoin strategic reserve approach, which Trump later adopted.

The U.S. president positioned himself as a pro-crypto candidate for the 2024 election. On March 6, Trump signed an executive order to create a Bitcoin strategic reserve and digital asset stockpile in the United States.

The U.S. holds nearly 198,000 BTC, valued at over $17 billion. The reserve is largely composed of Bitcoin seized in criminal and civil cases, including substantial amounts from the Silk Road and Bitfinex hack cases.

El Salvador's BTC plans face IMF opposition

El Salvador signed a $1.4 billion loan agreement with the International Monetary Fund (IMF), which involved commitments to wind down Bitcoin-related initiatives and reduce the public sector's involvement in digital assets.

Although the Salvadoran Congress amended its Bitcoin laws in January to comply with the agreement, the government has continued daily purchases of BTC. The country's National Bitcoin Office tracker indicates it now holds 6,147.18 BTC, valued at approximately $520.7 million.

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Other articles published on May 17, 2025