IMF confirms no new public-sector Bitcoin purchases by El Salvador regardless of authorities claims of each day accumulation
El Salvador’s authorities claimed all through 2025 that it was shopping for one Bitcoin per day. Nevertheless, a newly printed IMF report straight contradicts these assertions.
IMF Reveals El Salvador’s Bitcoin Bluff
The July 15 report, a part of the IMF’s Article IV session and first program evaluate, makes clear that El Salvador has not purchased any new Bitcoin because the $1.4 billion Prolonged Fund Facility (EFF) was authorised in December 2024.
“The general inventory of Bitcoin held by the general public sector has remained unchanged since program approval,” the IMF acknowledged.
All year long, President Nayib Bukele and El Salvador’s Nationwide Bitcoin Workplace continued to put up on social media that the nation was accumulating Bitcoin—one per day.
Public-facing wallets confirmed a rise in holdings, and authorities tweets bolstered the thought of ongoing purchases.
On March 4, Bukele posted that the each day Bitcoin shopping for program was nonetheless energetic and would proceed.
Across the identical time, the Bitcoin Workplace claimed holdings exceeded 6,102 BTC. The media cited these numbers, which have been broadly repeated in crypto circles.
Nevertheless, the IMF debunked this story in its official program evaluate.
What Truly Occurred
In line with the Fund, the rise in Bitcoin pockets balances got here from inner actions between government-owned wallets—not new purchases.
These pockets consolidations gave the phantasm of shopping for however mirrored no contemporary market exercise.
The report additionally disclosed “small fluctuations” in Bitcoin deposits within the authorities’s Chivo e-wallet. These, too, have been addressed by inner corrective measures, not extra public funds.
Put merely, no taxpayer cash has gone into shopping for extra Bitcoin in 2025.
But, this discrepancy raises critical questions on transparency and belief. El Salvador made world headlines in 2021 by adopting Bitcoin as authorized tender.
Nevertheless, in January 2025, the nation reversed course underneath stress from worldwide lenders and with a fragile fiscal place.
Extra particularly, it stripped Bitcoin of authorized tender standing and agreed to not use public sources to accumulate extra.
The IMF’s new findings affirm that El Salvador is honoring its monetary commitments.
Chivo Below Hearth
The IMF report additionally cited “minor deviations” in efficiency standards as a result of irregularities within the Chivo system. The Salvadoran authorities has agreed to totally finish public-sector involvement within the Chivo Pockets by the tip of July 2025.
This transfer aligns with a broader push for fiscal transparency and market self-discipline underneath the Fund-supported program.
Additionally, the federal government has dedicated to publishing monetary info for state-owned enterprises and to unwind the general public Bitcoin belief, Fidebitcoin.
Because the end-of-July deadline for privatizing Chivo approaches, the Bitcoin group will likely be watching to see if El Salvador follows by—or retains spinning a story at odds with the info.
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