El Salvador’s post-review Bitcoin accumulation used no public funds: IMF
The IMF attributed Bitcoin added since June 2025 to private donations, addressing questions raised after El Salvador reported a $100 million acquisition.
The International Monetary Fund explained that El Salvador's post-June 2025 Bitcoin accumulation did not utilize public funds. Documents provided by Salvadoran authorities confirmed the accumulation stemmed from private donations, the lender stated in a Thursday statement. Consequently, El Salvador's Bitcoin holdings did not result from additional government-financed purchases.
The IMF also noted that control of the Chivo wallet, where Bitcoin is stored, has been transferred to a private operator while the government maintains a minority stake and custodial responsibilities. The lender affirmed that no further Bitcoin accumulation is anticipated beyond documented donations. This clarification comes after El Salvador reported in November 2025 that it had amassed 1,090 BTC worth $100 million, reigniting discussions about compliance with its $1.4 billion IMF program.
In December 2024, El Salvador consented to limit public-sector engagement in Bitcoin under the IMF package, making private-sector Bitcoin acceptance voluntary and mandating tax payments in US dollars. The agreement aimed to divest the government from Chivo, the national Bitcoin wallet. In March 2025, the IMF issued guidelines prohibiting the voluntary accumulation of Bitcoin by the public sector.
Despite these directives, El Salvador's President Nayib Bukele claimed the purchases would continue, with the country reportedly adding at least one Bitcoin daily.
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