US President Donald Trump recently met with El Salvador’s President Nayib Bukele at the White House, where they discussed a range of pressing issues, including trade, immigration, and bilateral security cooperation. Notably absent from the public agenda was any discussion of Bitcoin, a topic that has been central to both presidents’ administrations.

During the meeting, Trump raised the possibility of transferring US citizens convicted of crimes to prisons in El Salvador, emphasizing the need for the country to expand its prison system to accommodate more prisoners. This conversation comes in the context of a $6 million deal between the two countries that has seen the deportation of hundreds of alleged foreign criminal individuals to El Salvador under the Trump administration.

In addition to addressing immigration and security matters, Trump also touched upon the ongoing trade war and suggested a potential temporary exemption for automakers to ease the transition of their supply chains. He acknowledged the challenges faced by the US auto industry in relocating production to the country and expressed a willingness to support them in this process.

Despite the significant focus on trade and immigration, the meeting did not delve into discussions about digital assets and Bitcoin policy, which have been key initiatives for both leaders. El Salvador made headlines in 2021 when it adopted Bitcoin as legal tender and pioneered the Bitcoin strategic reserve approach, a move later emulated by Trump. In March, Trump signed an executive order to create a Bitcoin strategic reserve and digital asset stockpile in the United States, with the country currently holding nearly 198,000 BTC valued at over $17 billion.

El Salvador’s embrace of Bitcoin has not been without controversy, particularly in relation to a $1.4 billion loan agreement with the International Monetary Fund (IMF) signed in December. The agreement included commitments to unwind Bitcoin-related initiatives, but the Salvadoran government has continued its daily purchases of BTC. The country’s National Bitcoin Office currently holds over 6,000 BTC, worth approximately $520.7 million.

While the meeting between Trump and Bukele did not touch on Bitcoin, the cryptocurrency remains a topic of interest and contention in both countries. As El Salvador and the US navigate their respective approaches to digital assets, the implications for their economies and international relations continue to unfold.

Source: https://cointelegraph.com/news/bitcoin-takes-back-seat-trump-bukele-trade-immigration?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound