El Salvador to transfer Bitcoin reserves to multiple addresses

SAN SALVADOR (Reuters) -El Salvador, the first country to make Bitcoin legal tender, will move its reserves of the popular cryptocurrency to multiple new addresses from the single address it previously used in order to improve security, it said on Friday.

The country’s National Bitcoin Office said on X each address would hold up to 500 Bitcoin (around $54 million as of recent prices), and that a public dashboard would make the full balance across these addresses transparent to the public.

The Central American nation has for years been consolidating its Bitcoin position. As of Friday, it held around $682 million worth in the volatile cryptocurrency.

(Reporting by Nelson Renteria; Writing by Sarah Morland; Editing by Kylie Madry)