Bitcoin retreats when Trump, Buckley focuses on trade and immigration

U.S. President Donald Trump hosted El Salvador President Nayib Bukele at the White House on April 14, with talks centered on trade and immigration that excludes the Bitcoin public agenda.

The tone of the first official meeting was held at the White House during Trump’s second term.

According to a live stream shared by Buckley’s office on X, Trump raised the possibility of transferring convicted U.S. citizens to El Salvador prisons, urging Buckler to expand the country’s prison system to accommodate more inmates. “I say the next homeland, homeland. You have to build five more places.”

Since taking office, the Trump administration has deported hundreds of suspected foreign criminals to El Salvador based on a $6 million deal between the two countries.

Trump also spoke about the trade war his administration launched on April 2, indicating a temporary exemption for automakers aimed at mitigating the transition of their supply chains.

“I’m looking for something to help some car companies,” Trump told reporters at the meeting, adding that the U.S. auto industry “takes a little time” to transfer production to the country.

The meeting did not involve digital assets and Bitcoin (BTC) policies, the flagship plan of the two presidential administrations.

El Salvador pioneered the method of Bitcoin’s strategic reserves in 2021 through Bitcoin as a fiat currency, and later Trump.

During the 2024 election, the U.S. president positioned himself as a pro-Cretto candidate. On March 6, Trump signed an executive order to create strategic Bitcoin reserves and digital asset inventory in the United States.

As of March, the United States had nearly 198,000 BTC worth more than $17 billion. The reserve consists primarily of bitcoins seized in criminal and civil cases, including a large number of Silk Road and Bitfinex Hack cases.

Related: How much bitcoins does the United States have and where does it come from?

El Salvador’s BTC plan faces IMF opposition

El Salvador signed a $1.4 billion loan agreement with the International Monetary Fund in December, which includes commitments to relax Bitcoin-related programs and reduce public sector participation in digital assets.

Although the El Salvador Congress revised its Bitcoin law in January to comply with the transaction, the government continued to buy BTC every day. The country’s National Bitcoin Office tracker shows that it currently holds 6,147.18 BTC, worth approximately $527 million in writing.

Related: After receiving the license, Tether will move its headquarters to El Salvador