Trump and El Salvador’s Bukele Discuss Trade, Skip Bitcoin in White House Meeting
On April 14, a meeting between US President Donald Trump and El Salvador’s President Nayib Bukele at the White House centered on trade and immigration topics. Despite both leaders’ favorable positions on cryptocurrency, Bitcoin discussions were absent. This is notable as El Salvador made Bitcoin a legal tender in 2021 and has continuously increased its Bitcoin holdings to over 6,147 BTC. The absence of Bitcoin from the talks could be due to pressure from the IMF on El Salvador to limit its Bitcoin usage, while the US holds a substantial amount of Bitcoin mostly from asset seizures. The event underscores that cryptocurrency, although increasingly important globally, may not necessarily be a focus in diplomatic exchanges.
Neutral
The meeting between Trump and Bukele did not address Bitcoin despite their pro-cryptocurrency stances, leading to a neutral market impact. While El Salvador’s Bitcoin policies show commitment, the lack of discussion at this high-level meeting may indicate a stable status quo rather than immediate market-moving events. Additionally, factors such as IMF pressure on El Salvador to curb Bitcoin use counterbalance the effects of El Salvador’s continued Bitcoin accumulation, leading to a neutral outlook in both short-term and long-term market behavior.