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IMF Report: El Salvador Has Not Acquired New Bitcoin Since December 2024

The IMF's evaluation reveals discrepancies in El Salvador's Bitcoin management, urging for greater transparency and regulation in the wake of unchanged public sector holdings.

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Summary

The IMF's recent report states that El Salvador has not purchased Bitcoin since February 2025, contradicting President Bukele's claims. The public sector's Bitcoin inventory remains unchanged, with about 6,244 BTC valued at approximately $740 million. The IMF is advocating for more transparency and regulation regarding Bitcoin management in the country, which adopted Bitcoin as legal tender in 2021.

Terms & Concepts
  • Chivo Wallet: A digital wallet in El Salvador used for Bitcoin transactions, which will be privatized and no longer funded by the government.
  • IMF Loan Agreement: A financial arrangement between the International Monetary Fund and El Salvador, involving a $1.4 billion loan with conditions regarding Bitcoin purchases.
  • Bitcoin as Legal Tender: A status granted to Bitcoin in El Salvador, allowing it to be used for transactions, which has been revised to make its acceptance voluntary.